Zacks Investment Research Upgrades Adecoagro (NYSE:AGRO) to Hold

Adecoagro (NYSE:AGRO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Adecoagro S.A. operates as an agricultural company in South America, with operations in Argentina, Brazil and Uruguay. The Company is engaged in farming crops and other agricultural products, cattle and dairy operations, sugar, ethanol and energy production and land transformation. Adecoagro S.A. is based in Luxembourg. “

Separately, ValuEngine upgraded Adecoagro from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $8.75.

NYSE AGRO traded up $0.10 on Friday, reaching $6.45. The company had a trading volume of 353,193 shares, compared to its average volume of 447,079. The stock has a market capitalization of $740.16 million, a P/E ratio of 19.84 and a beta of 0.66. The company has a quick ratio of 0.78, a current ratio of 1.55 and a debt-to-equity ratio of 0.86. The company’s fifty day moving average is $5.93 and its 200 day moving average is $6.39. Adecoagro has a 52-week low of $5.29 and a 52-week high of $7.81.

Adecoagro (NYSE:AGRO) last announced its quarterly earnings data on Thursday, August 15th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). The business had revenue of $227.79 million during the quarter. Adecoagro had a negative net margin of 1.76% and a positive return on equity of 2.82%. On average, research analysts expect that Adecoagro will post 0.27 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. Serengeti Asset Management LP bought a new position in Adecoagro in the 3rd quarter valued at $1,458,000. California Public Employees Retirement System grew its stake in shares of Adecoagro by 43.1% during the 3rd quarter. California Public Employees Retirement System now owns 49,337 shares of the company’s stock worth $288,000 after acquiring an additional 14,871 shares during the period. Amundi Pioneer Asset Management Inc. grew its stake in shares of Adecoagro by 212.8% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 370,490 shares of the company’s stock worth $4,994,000 after acquiring an additional 252,035 shares during the period. Cubist Systematic Strategies LLC grew its stake in shares of Adecoagro by 180.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 26,034 shares of the company’s stock worth $186,000 after acquiring an additional 16,760 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Adecoagro by 170.0% during the 2nd quarter. Vanguard Group Inc. now owns 86,707 shares of the company’s stock worth $619,000 after acquiring an additional 54,593 shares during the period. Hedge funds and other institutional investors own 46.07% of the company’s stock.

Adecoagro Company Profile

Adecoagro SA, an agricultural company, engages in farming crops and other agricultural products, dairy operations, sugar, ethanol and energy production, and land transformation activities in South America. The company engages in the planting, harvesting, and sale of grains, oilseeds, and fibers including wheat, corn, soybeans, cotton, sunflowers, and other; provision of grain warehousing/conditioning, handling, and drying services to third parties; and purchase and sale of crops produced by third parties.

Featured Story: How Do I Invest in Dividend Stocks

Get a free copy of the Zacks research report on Adecoagro (AGRO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Adecoagro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adecoagro and related companies with MarketBeat.com's FREE daily email newsletter.