AGCO (NYSE:AGCO) Rating Increased to Hold at ValuEngine

AGCO (NYSE:AGCO) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

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.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.23. AGCO had a net margin of 4.07% and a return on equity of 12.64%. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the company earned $1.32 earnings per share. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, research analysts anticipate that AGCO will post 5.08 earnings per share for the current year.

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.

About AGCO

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for AGCO (NYSE:AGCO)

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