AGCO (NYSE:AGCO) Coverage Initiated by Analysts at Citigroup

Citigroup initiated coverage on shares of AGCO (NYSE:AGCO) in a report issued on Wednesday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $108.00 price target on the industrial products company’s stock. Citigroup’s price target would indicate a potential upside of 9.29% from the stock’s current price.

A number of other equities analysts also recently issued reports on AGCO. JPMorgan Chase & Co. reduced their price target on AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Truist Financial dropped their target price on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Finally, Oppenheimer lowered their price target on AGCO from $145.00 to $133.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.83.

AGCO Price Performance

Shares of AGCO opened at $98.82 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. The stock has a market capitalization of $7.37 billion, a PE ratio of 6.69, a PEG ratio of 0.60 and a beta of 1.31. The company has a 50 day moving average price of $108.84 and a 200-day moving average price of $114.63. AGCO has a fifty-two week low of $96.60 and a fifty-two week high of $140.46.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.29 by $0.03. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the firm posted $3.51 earnings per share. The company’s quarterly revenue was down 12.1% on a year-over-year basis. Equities analysts predict that AGCO will post 12.18 earnings per share for the current fiscal year.

Institutional Trading of AGCO

Large investors have recently made changes to their positions in the business. Strs Ohio lifted its position in AGCO by 0.7% during the fourth quarter. Strs Ohio now owns 12,091 shares of the industrial products company’s stock valued at $1,467,000 after purchasing an additional 87 shares during the period. SummerHaven Investment Management LLC boosted its stake in shares of AGCO by 1.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 5,383 shares of the industrial products company’s stock worth $654,000 after buying an additional 91 shares during the last quarter. State of Michigan Retirement System grew its holdings in AGCO by 0.7% during the fourth quarter. State of Michigan Retirement System now owns 14,958 shares of the industrial products company’s stock worth $1,816,000 after acquiring an additional 100 shares during the period. Denali Advisors LLC raised its position in AGCO by 50.0% during the fourth quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 103 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in AGCO by 30.1% during the fourth quarter. Venturi Wealth Management LLC now owns 445 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 103 shares in the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; 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, equestrian, and residential uses.