Citigroup Issues Pessimistic Forecast for AGCO (NYSE:AGCO) Stock Price

AGCO (NYSE:AGCO) had its price objective cut by stock analysts at Citigroup from $100.00 to $95.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price objective would indicate a potential downside of 2.29% from the stock’s previous close.

Several other equities analysts have also commented on AGCO. Truist Financial raised their target price on shares of AGCO from $110.00 to $116.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Morgan Stanley began coverage on shares of AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective for the company. Oppenheimer reduced their target price on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group reduced their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $107.20.

AGCO Trading Down 0.1 %

Shares of NYSE:AGCO opened at $97.23 on Tuesday. The business’s 50 day simple moving average is $95.15 and its 200 day simple moving average is $94.89. AGCO has a 1 year low of $84.35 and a 1 year high of $130.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. The company has a market capitalization of $7.26 billion, a P/E ratio of 43.02, a P/E/G ratio of 0.56 and a beta of 1.25.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period last year, the company posted $3.97 earnings per share. On average, research analysts anticipate that AGCO will post 7.36 EPS for the current fiscal year.

Institutional Trading of AGCO

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in AGCO in the 3rd quarter valued at approximately $29,000. Venturi Wealth Management LLC increased its position in AGCO by 132.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 210 shares during the period. Farther Finance Advisors LLC raised its stake in shares of AGCO by 50.2% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 139 shares during the last quarter. LRI Investments LLC lifted its holdings in shares of AGCO by 50.0% during the third quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 170 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of AGCO by 28.6% in the third quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 117 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors.

AGCO Company Profile

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.