Morgan Stanley Lowers AGCO (NYSE:AGCO) Price Target to $156.00

AGCO (NYSE:AGCO) had its price target trimmed by Morgan Stanley from $170.00 to $156.00 in a report published on Wednesday, Analyst Ratings Network reports. The firm currently has an overweight rating on the industrial products company’s stock.

Several other brokerages have also recently issued reports on AGCO. JPMorgan Chase & Co. upgraded AGCO from a neutral rating to an overweight rating and set a $164.00 price objective on the stock in a research note on Tuesday, July 13th. Deutsche Bank Aktiengesellschaft reduced their price objective on AGCO from $187.00 to $141.00 and set a buy rating on the stock in a research note on Wednesday, July 14th. Credit Suisse Group increased their price objective on AGCO from $160.00 to $163.00 and gave the company an outperform rating in a research note on Friday, July 30th. The Goldman Sachs Group upgraded AGCO from a neutral rating to a buy rating and set a $161.00 price objective on the stock in a research note on Tuesday, August 24th. Finally, Citigroup increased their target price on AGCO from $155.00 to $165.00 and gave the company a buy rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, AGCO currently has an average rating of Buy and a consensus target price of $147.36.

NYSE:AGCO opened at $125.28 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 1.31 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average is $131.57 and its two-hundred day moving average is $135.33. AGCO has a 52 week low of $74.76 and a 52 week high of $158.62. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 0.69 and a beta of 1.33.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Thursday, July 29th. The industrial products company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.71. AGCO had a return on equity of 21.26% and a net margin of 6.94%. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.74 billion. On average, sell-side analysts expect that AGCO will post 9.57 EPS for the current fiscal year.

In other news, SVP Hans Bernd Veltmaat sold 5,050 shares of the business’s stock in a transaction on Tuesday, August 31st. The shares were sold at an average price of $138.28, for a total transaction of $698,314.00. Following the completion of the sale, the senior vice president now directly owns 125,590 shares of the company’s stock, valued at approximately $17,366,585.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kelvin Eugene Bennett sold 1,750 shares of the business’s stock in a transaction on Tuesday, August 10th. The shares were sold at an average price of $138.37, for a total transaction of $242,147.50. Following the sale, the senior vice president now directly owns 7,746 shares of the company’s stock, valued at $1,071,814.02. The disclosure for this sale can be found here. 17.40% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Van ECK Associates Corp raised its stake in shares of AGCO by 35.1% in the 1st quarter. Van ECK Associates Corp now owns 122,416 shares of the industrial products company’s stock valued at $17,585,000 after purchasing an additional 31,832 shares in the last quarter. Impala Asset Management LLC acquired a new stake in shares of AGCO in the 1st quarter valued at about $17,578,000. Canada Pension Plan Investment Board raised its stake in shares of AGCO by 329.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 36,383 shares of the industrial products company’s stock valued at $5,226,000 after purchasing an additional 27,904 shares in the last quarter. Impax Asset Management Group plc raised its stake in shares of AGCO by 4.1% in the 2nd quarter. Impax Asset Management Group plc now owns 256,135 shares of the industrial products company’s stock valued at $33,395,000 after purchasing an additional 9,995 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd raised its stake in shares of AGCO by 149.3% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 275,962 shares of the industrial products company’s stock valued at $35,980,000 after purchasing an additional 165,284 shares in the last quarter. Hedge funds and other institutional investors own 76.16% of the company’s stock.

About AGCO

AGCO Corp. engages in the manufacture and distribution of agricultural equipment and related replacement parts. It operates through the following geographic segments: North America; South America; Europe and Middle East; and Asia, Pacific, and Africa. The Asia/Pacific/Africa segment includes the regions of Australia and New Zealand.

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Analyst Recommendations for AGCO (NYSE:AGCO)

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