AGCO Corporation (NYSE:AGCO)‘s stock had its “hold” rating reissued by research analysts at Piper Jaffray Companies in a research report issued on Sunday. They currently have a $66.00 price objective on the industrial products company’s stock. Piper Jaffray Companies’ target price would indicate a potential downside of 6.24% from the company’s previous close.

Several other research firms have also recently issued reports on AGCO. Jefferies Group LLC reissued a “hold” rating and set a $61.00 price target on shares of AGCO Corporation in a report on Wednesday, May 31st. Royal Bank Of Canada reissued a “hold” rating and set a $64.00 price target on shares of AGCO Corporation in a report on Tuesday, June 6th. UBS AG raised shares of AGCO Corporation from a “sell” rating to a “neutral” rating and increased their price target for the stock from $52.00 to $68.00 in a report on Wednesday, June 21st. TheStreet raised shares of AGCO Corporation from a “c+” rating to a “b+” rating in a report on Thursday, July 27th. Finally, BidaskClub raised shares of AGCO Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. AGCO Corporation currently has an average rating of “Hold” and an average target price of $65.73.

Shares of AGCO Corporation (AGCO) opened at 70.39 on Friday. AGCO Corporation has a 52-week low of $46.71 and a 52-week high of $73.97. The stock’s 50 day moving average price is $69.19 and its 200-day moving average price is $65.39. The firm has a market capitalization of $5.60 billion, a PE ratio of 30.78 and a beta of 0.88.

AGCO Corporation (NYSE:AGCO) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.11. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.08 billion. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. Equities research analysts anticipate that AGCO Corporation will post $3.06 EPS for the current fiscal year.

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In other news, SVP Robert B. Crain sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total value of $1,076,700.00. Following the sale, the senior vice president now directly owns 89,322 shares in the company, valued at $6,411,533.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew H. Beck sold 10,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $72.18, for a total transaction of $721,800.00. Following the completion of the sale, the chief financial officer now owns 142,079 shares in the company, valued at $10,255,262.22. The disclosure for this sale can be found here. Insiders sold 26,750 shares of company stock worth $1,921,390 over the last quarter. Company insiders own 16.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of 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 valued at $392,938,000 after purchasing an additional 6,296,716 shares during the last quarter. Vanguard Group Inc. grew its position in shares of AGCO Corporation by 0.3% in the second quarter. Vanguard Group Inc. now owns 5,665,136 shares of the industrial products company’s stock valued at $381,774,000 after purchasing an additional 18,657 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of AGCO Corporation by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,804,186 shares of the industrial products company’s stock valued at $188,969,000 after purchasing an additional 13,003 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of AGCO Corporation by 50.0% in the second quarter. Victory Capital Management Inc. now owns 2,600,116 shares of the industrial products company’s stock valued at $175,222,000 after purchasing an additional 866,708 shares during the last quarter. Finally, FMR LLC grew its position in shares of AGCO Corporation by 23.6% in the second quarter. FMR LLC now owns 1,606,000 shares of the industrial products company’s stock valued at $108,228,000 after purchasing an additional 306,505 shares during the last quarter. Institutional investors and hedge funds own 80.68% of the company’s stock.

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.

Analyst Recommendations for AGCO Corporation (NYSE:AGCO)

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