Truist Financial Increases AGCO (NYSE:AGCO) Price Target to $118.00

AGCO (NYSE:AGCO) had its price objective increased by stock analysts at Truist Financial from $109.00 to $118.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target indicates a potential upside of 15.81% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. The Goldman Sachs Group reduced their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Morgan Stanley began coverage on AGCO in a research report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 target price on the stock. Finally, Citigroup reduced their price target on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, AGCO currently has a consensus rating of “Hold” and an average price target of $107.40.

AGCO Trading Up 1.9 %

Shares of NYSE:AGCO opened at $101.89 on Thursday. The business’s 50-day moving average is $95.47 and its 200 day moving average is $94.97. 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 capitalization of $7.61 billion, a P/E ratio of 45.08, a P/E/G ratio of 0.90 and a beta of 1.25.

AGCO (NYSE:AGCO) last posted its quarterly earnings data 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 net margin of 1.35% and a return on equity of 15.79%. The business’s revenue was down 24.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.97 EPS. On average, research analysts predict that AGCO will post 7.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AGCO. Brooklyn Investment Group purchased a new position in shares of AGCO in the 3rd quarter valued at about $29,000. UMB Bank n.a. increased its position in shares of AGCO by 84.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock valued at $32,000 after buying an additional 154 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of AGCO by 132.9% in the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after buying an additional 210 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of AGCO by 50.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after buying an additional 139 shares during the period. Finally, LRI Investments LLC lifted its position in shares of AGCO by 50.0% during the 3rd quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock valued at $47,000 after buying an additional 170 shares in the last quarter. Institutional investors and hedge funds 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.