Agco Corp. (AGCO) Upgraded at Wells Fargo & Co.
Agco Corp. (NYSE:AGCO) was upgraded by Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a research report issued on Monday.
Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Agco Corp. from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Tuesday, June 21st. Jefferies Group reiterated a “buy” rating on shares of Agco Corp. in a research note on Friday, August 5th. Barclays PLC reiterated an “equal weight” rating and issued a $43.00 price target on shares of Agco Corp. in a research note on Tuesday, July 12th. Morgan Stanley set a $54.00 price target on shares of Agco Corp. and gave the stock a “hold” rating in a research note on Friday, August 5th. Finally, Deutsche Bank AG assumed coverage on shares of Agco Corp. in a research note on Tuesday, September 6th. They issued a “hold” rating and a $54.00 price target for the company. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $48.75.
Shares of Agco Corp. (NYSE:AGCO) traded up 3.59% on Monday, hitting $52.00. 1,175,187 shares of the stock were exchanged. The company has a 50-day moving average price of $48.17 and a 200 day moving average price of $49.74. Agco Corp. has a 12 month low of $42.40 and a 12 month high of $56.00. The company has a market cap of $4.22 billion, a PE ratio of 23.37 and a beta of 1.32.
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Agco Corp. (NYSE:AGCO) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.10. Agco Corp. had a net margin of 2.58% and a return on equity of 7.72%. The business earned $2 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business earned $1.25 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts forecast that Agco Corp. will post $2.31 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Thursday, August 11th. Agco Corp.’s payout ratio is presently 23.64%.
Several institutional investors have recently bought and sold shares of AGCO. Sii Investments Inc. WI acquired a new position in Agco Corp. during the second quarter worth about $224,000. Seven Eight Capital LLC acquired a new position in Agco Corp. during the first quarter worth about $226,000. Huntington Asset Advisors Inc. acquired a new position in Agco Corp. during the first quarter worth about $231,000. Gratus Capital LLC acquired a new position in Agco Corp. during the second quarter worth about $240,000. Finally, Boston Advisors LLC acquired a new position in Agco Corp. during the second quarter worth about $241,000. 88.67% of the stock is currently owned by institutional investors.
About Agco Corp.
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems.
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