Agco Corp. (AGCO) PT Raised to $50.00 at Barclays PLC
Agco Corp. (NYSE:AGCO) had its price target upped by research analysts at Barclays PLC from $43.00 to $50.00 in a research note issued on Wednesday. The brokerage currently has an “equal weight” rating on the stock. Barclays PLC’s price objective would indicate a potential downside of 3.29% from the stock’s previous close.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised 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 reissued a “buy” rating on shares of Agco Corp. in a report on Friday, August 5th. Morgan Stanley set a $54.00 price objective on shares of Agco Corp. and gave the company a “hold” rating in a report on Friday, August 5th. Deutsche Bank AG started coverage on shares of Agco Corp. in a report on Tuesday, September 6th. They set a “hold” rating and a $54.00 price objective for the company. Finally, Credit Suisse Group AG reissued a “hold” rating and set a $53.00 price objective on shares of Agco Corp. in a report on Tuesday, August 30th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $49.00.
Shares of Agco Corp. (NYSE:AGCO) traded up 0.35% during mid-day trading on Wednesday, reaching $51.88. 133,768 shares of the company’s stock were exchanged. The stock has a market cap of $4.21 billion, a PE ratio of 23.32 and a beta of 1.32. Agco Corp. has a one year low of $42.40 and a one year high of $56.00. The company has a 50 day moving average price of $48.30 and a 200-day moving average price of $49.74.
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Agco Corp. (NYSE:AGCO) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.02 earnings per share for the quarter, beating the 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 firm earned $2 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the company earned $1.25 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. On average, analysts predict that Agco Corp. will post $2.31 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.01%. Agco Corp.’s dividend payout ratio is 23.64%.
Institutional investors have recently modified their holdings of the company. Seven Eight Capital LLC bought a new position in shares of Agco Corp. during the first quarter worth $226,000. Huntington Asset Advisors Inc. bought a new position in shares of Agco Corp. during the first quarter worth $231,000. Sii Investments Inc. WI bought a new position in shares of Agco Corp. during the second quarter worth $224,000. Gratus Capital LLC bought a new position in shares of Agco Corp. during the second quarter worth $240,000. Finally, Boston Advisors LLC bought a new position in shares of Agco Corp. during the second quarter worth $241,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.
Agco Corp. Company Profile
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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