A number of other analysts have also issued reports on the stock. Credit Suisse Group AG reissued a hold rating and set a $53.00 target price on shares of Agco Corp. in a research note on Tuesday, August 30th. Wells Fargo & Co. raised shares of Agco Corp. from a market perform rating to an outperform rating in a research note on Monday, October 10th. Zacks Investment Research lowered shares of Agco Corp. from a hold rating to a sell rating in a research note on Tuesday, October 4th. Citigroup Inc. lowered their price objective on shares of Agco Corp. from $55.00 to $53.00 and set a neutral rating for the company in a research note on Friday, July 15th. Finally, Jefferies Group reaffirmed a buy rating on shares of Agco Corp. in a research note on Friday, August 5th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $49.00.
Shares of Agco Corp. (NYSE:AGCO) opened at 51.08 on Wednesday. The stock has a market cap of $4.14 billion, a P/E ratio of 22.96 and a beta of 1.32. Agco Corp. has a one year low of $42.40 and a one year high of $56.00. The stock’s 50 day moving average is $48.50 and its 200-day moving average is $49.77.
Agco Corp. (NYSE:AGCO) last issued its earnings results on Thursday, August 4th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.10. The firm earned $2 billion during the quarter, compared to analyst estimates of $1.88 billion. Agco Corp. had a net margin of 2.58% and a return on equity of 7.72%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 earnings per share. On average, equities analysts forecast that Agco Corp. will post $2.31 EPS for the current year.
Several institutional investors have recently bought and sold shares of the stock. Gulf International Bank UK Ltd increased its position in shares of Agco Corp. by 26.1% in the third quarter. Gulf International Bank UK Ltd now owns 24,161 shares of the company’s stock valued at $1,191,000 after buying an additional 5,000 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Agco Corp. during the third quarter valued at $256,000. Creative Planning increased its position in shares of Agco Corp. by 0.6% in the third quarter. Creative Planning now owns 11,434 shares of the company’s stock valued at $564,000 after buying an additional 68 shares during the period. Raymond James Trust N.A. increased its position in shares of Agco Corp. by 3.2% in the third quarter. Raymond James Trust N.A. now owns 8,328 shares of the company’s stock valued at $410,000 after buying an additional 256 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Agco Corp. by 199.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 117,047 shares of the company’s stock valued at $5,773,000 after buying an additional 78,020 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.
About Agco Corp.
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems.
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