Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada set a $88.00 target price on shares of AGCO and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised shares of AGCO from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $77.00 to $82.00 in a report on Wednesday, September 11th. They noted that the move was a valuation call. Deutsche Bank set a $88.00 target price on shares of AGCO and gave the company a “buy” rating in a report on Wednesday, July 31st. Stifel Nicolaus raised shares of AGCO from a “hold” rating to a “buy” rating and lifted their target price for the company from $79.00 to $84.00 in a report on Friday, September 6th. Finally, Wells Fargo & Co cut shares of AGCO from an “outperform” rating to a “market perform” rating and cut their target price for the company from $90.00 to $80.00 in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. AGCO presently has a consensus rating of “Hold” and an average target price of $78.73.
AGCO stock traded up $1.33 during midday trading on Wednesday, reaching $73.69. 302,028 shares of the company were exchanged, compared to its average volume of 601,874. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 1.29. AGCO has a 1-year low of $49.50 and a 1-year high of $80.64. The stock’s 50-day simple moving average is $71.90 and its 200 day simple moving average is $72.07. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97.
In related news, CFO Andrew H. Beck sold 10,000 shares of AGCO stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $70.52, for a total value of $705,200.00. Following the transaction, the chief financial officer now directly owns 148,218 shares in the company, valued at approximately $10,452,333.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Gary L. Collar sold 5,000 shares of AGCO stock in a transaction on Monday, August 12th. The shares were sold at an average price of $72.96, for a total transaction of $364,800.00. Following the completion of the transaction, the vice president now owns 83,807 shares in the company, valued at $6,114,558.72. The disclosure for this sale can be found here. Insiders sold a total of 76,977 shares of company stock worth $5,761,368 over the last ninety days. Corporate insiders own 17.60% of the company’s stock.
A number of large investors have recently bought and sold shares of AGCO. TD Asset Management Inc. purchased a new position in AGCO in the 1st quarter valued at $320,000. DekaBank Deutsche Girozentrale grew its position in AGCO by 25.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 51,511 shares of the industrial products company’s stock valued at $3,115,000 after buying an additional 10,411 shares during the last quarter. Fiera Capital Corp purchased a new position in AGCO in the 1st quarter valued at $3,837,000. CIBC Private Wealth Group LLC purchased a new position in AGCO in the 1st quarter valued at $333,000. Finally, Swiss National Bank grew its position in AGCO by 2.0% in the 1st quarter. Swiss National Bank now owns 121,300 shares of the industrial products company’s stock valued at $8,436,000 after buying an additional 2,400 shares during the last quarter. Hedge funds and other institutional investors own 81.33% of the company’s stock.
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, and residential uses.
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