Adecoagro (NYSE:AGRO) Upgraded to “Overweight” by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Adecoagro (NYSE:AGRO) from a neutral rating to an overweight rating in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have $9.00 target price on the stock, up from their previous target price of $8.00.

AGRO has been the subject of a number of other research reports. ValuEngine lowered Adecoagro from a hold rating to a sell rating in a research report on Friday, November 15th. Zacks Investment Research raised Adecoagro from a sell rating to a hold rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $8.81.

Shares of NYSE:AGRO opened at $7.78 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.78 and a current ratio of 1.55. The firm has a fifty day moving average price of $6.45 and a 200 day moving average price of $6.41. Adecoagro has a fifty-two week low of $5.29 and a fifty-two week high of $8.05. The firm has a market cap of $863.71 million, a price-to-earnings ratio of 9.97 and a beta of 0.71.

Adecoagro (NYSE:AGRO) last posted its earnings results on Wednesday, November 13th. The company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.27. The company had revenue of $220.31 million during the quarter. Adecoagro had a negative net margin of 1.76% and a positive return on equity of 2.82%. As a group, research analysts predict that Adecoagro will post 0.23 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in Adecoagro by 301.2% during the second quarter. BlackRock Inc. now owns 2,403,008 shares of the company’s stock valued at $17,158,000 after purchasing an additional 1,804,026 shares in the last quarter. Sagil Capital LLP purchased a new stake in shares of Adecoagro during the 2nd quarter valued at about $7,404,000. Millennium Management LLC bought a new position in shares of Adecoagro in the 3rd quarter valued at about $1,768,000. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Adecoagro by 212.8% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 370,490 shares of the company’s stock valued at $4,994,000 after acquiring an additional 252,035 shares during the last quarter. Finally, Serengeti Asset Management LP bought a new position in shares of Adecoagro in the 3rd quarter valued at about $1,458,000. 46.16% of the stock is currently owned by institutional investors and hedge funds.

About Adecoagro

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.

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