AGCO (NYSE:AGCO) Downgraded by StockNews.com to Sell

AGCO (NYSE:AGCO) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Several other equities research analysts have also issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. UBS Group dropped their target price on AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. BMO Capital Markets assumed coverage on AGCO in a research note on Friday, August 9th. They set a “market perform” rating and a $96.00 target price on the stock. Citigroup raised their price target on AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Truist Financial upped their price objective on AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $114.40.

AGCO Trading Down 2.7 %

Shares of NYSE AGCO opened at $91.79 on Wednesday. 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 business’s 50 day moving average is $96.11 and its two-hundred day moving average is $97.93. The stock has a market capitalization of $6.85 billion, a P/E ratio of 40.62, a PEG ratio of 0.53 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 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 the consensus estimate of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.97 EPS. As a group, research analysts expect that AGCO will post 7.32 EPS for the current year.

Institutional Investors Weigh In On AGCO

Large investors have recently modified their holdings of the business. Great Valley Advisor Group Inc. increased its holdings in AGCO by 30.0% during the second quarter. Great Valley Advisor Group Inc. now owns 31,039 shares of the industrial products company’s stock valued at $3,038,000 after buying an additional 7,171 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of AGCO by 146.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,658 shares of the industrial products company’s stock valued at $10,538,000 after acquiring an additional 50,892 shares during the period. Cetera Investment Advisers raised its position in shares of AGCO by 377.0% in the 1st quarter. Cetera Investment Advisers now owns 17,695 shares of the industrial products company’s stock worth $2,177,000 after acquiring an additional 13,985 shares in the last quarter. Stratos Wealth Advisors LLC lifted its stake in shares of AGCO by 42.3% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 17,064 shares of the industrial products company’s stock worth $1,670,000 after purchasing an additional 5,069 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in AGCO by 11.6% during the first quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock valued at $930,660,000 after purchasing an additional 784,617 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

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.