AGCO Corporation (AGCO) Receives Average Rating of “Hold” from Analysts
Shares of AGCO Corporation (NYSE:AGCO) have been given an average recommendation of “Hold” by the twenty-one ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $65.73.
A number of research firms have recently weighed in on AGCO. BidaskClub lowered AGCO Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Piper Jaffray Companies set a $66.00 target price on AGCO Corporation and gave the company a “hold” rating in a report on Wednesday, August 9th. BMO Capital Markets raised their target price on AGCO Corporation from $70.00 to $75.00 and gave the company a “market perform” rating in a report on Tuesday, August 1st. UBS AG restated a “neutral” rating and issued a $73.00 target price (up previously from $68.00) on shares of AGCO Corporation in a report on Monday, July 31st. Finally, TheStreet upgraded AGCO Corporation from a “c+” rating to a “b+” rating in a report on Thursday, July 27th.
In other AGCO Corporation news, SVP Hans Bernd Veltmaat sold 750 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $66.52, for a total value of $49,890.00. Following the completion of the sale, the senior vice president now directly owns 68,552 shares of the company’s stock, valued at $4,560,079.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Lucinda B. Smith sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $73.00, for a total value of $73,000.00. Following the completion of the sale, the senior vice president now directly owns 38,877 shares of the company’s stock, valued at $2,838,021. The disclosure for this sale can be found here. Insiders sold 26,750 shares of company stock valued at $1,921,390 over the last three months. Company insiders own 16.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in AGCO. BlackRock Inc. increased its position in AGCO Corporation by 2,706.4% in the first quarter. BlackRock Inc. now owns 6,529,374 shares of the industrial products company’s stock worth $392,938,000 after buying an additional 6,296,716 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in AGCO Corporation in the first quarter worth $104,317,000. FMR LLC increased its position in AGCO Corporation by 23.6% in the second quarter. FMR LLC now owns 1,606,000 shares of the industrial products company’s stock worth $108,228,000 after buying an additional 306,505 shares during the last quarter. Vanguard Group Inc. increased its position in AGCO Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 5,646,479 shares of the industrial products company’s stock worth $339,804,000 after buying an additional 232,091 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in AGCO Corporation by 48.1% in the second quarter. Canada Pension Plan Investment Board now owns 699,503 shares of the industrial products company’s stock worth $47,140,000 after buying an additional 227,300 shares during the last quarter. 80.68% of the stock is owned by institutional investors and hedge funds.
AGCO Corporation (NYSE:AGCO) traded up 1.62% on Friday, hitting $67.80. The company’s stock had a trading volume of 455,658 shares. The stock has a market cap of $5.39 billion, a PE ratio of 29.65 and a beta of 0.88. The firm has a 50 day moving average of $69.53 and a 200-day moving average of $65.13. AGCO Corporation has a 12 month low of $46.22 and a 12 month high of $73.97.
AGCO Corporation (NYSE:AGCO) last posted its earnings results on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.11. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter last year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts expect that AGCO Corporation will post $3.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Friday, August 11th. AGCO Corporation’s dividend payout ratio is currently 24.56%.
About AGCO Corporation
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
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