AGCO (NYSE:AGCO) Stock Rating Lowered by StockNews.com

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 brokerages also recently commented on AGCO. Truist Financial lifted their target price on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Citigroup upped their target price on AGCO from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Monday. Oppenheimer lowered their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group dropped their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, AGCO has a consensus rating of “Hold” and an average target price of $113.18.

AGCO Stock Down 1.6 %

Shares of NYSE AGCO opened at $98.10 on Wednesday. The company has a 50 day simple moving average of $97.54 and a 200 day simple moving average of $96.47. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. AGCO has a 1 year low of $84.35 and a 1 year high of $130.26. The firm has a market cap of $7.32 billion, a PE ratio of 43.41, a price-to-earnings-growth ratio of 0.55 and a beta of 1.24.

AGCO (NYSE:AGCO) last released its quarterly 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). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the business posted $3.97 EPS. AGCO’s revenue was down 24.8% on a year-over-year basis. On average, research analysts forecast that AGCO will post 7.36 EPS for the current year.

Institutional Investors Weigh In On AGCO

Hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of AGCO by 103.5% in the 2nd quarter. Pacer Advisors Inc. now owns 1,571,453 shares of the industrial products company’s stock worth $153,814,000 after purchasing an additional 799,429 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of AGCO by 53.0% in the second quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock valued at $171,090,000 after buying an additional 605,509 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of AGCO by 28.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock valued at $175,323,000 after buying an additional 391,591 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of AGCO by 17.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock valued at $221,187,000 after buying an additional 335,092 shares during the last quarter. Finally, Barclays PLC increased its position in shares of AGCO by 386.8% during the third quarter. Barclays PLC now owns 249,209 shares of the industrial products company’s stock worth $24,389,000 after acquiring an additional 198,014 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

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.