Analysts’ Weekly Ratings Updates for AGCO Corporation (AGCO)
A number of research firms have changed their ratings and price targets for AGCO Corporation (NYSE: AGCO):
- 10/13/2017 – AGCO Corporation was downgraded by analysts at Bank of America Corporation from a “neutral” rating to an “underperform” rating. They now have a $70.00 price target on the stock, down previously from $74.65.
- 10/11/2017 – AGCO Corporation was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “AGCO’s sales guidance of around $8 billion for 2017, reflects improved sales volumes, positive pricing and acquisition impacts. The company's recent launch of IDEAL will boost its full line of agricultural solution. Further, the expansion of parts distribution center remains a tailwind. Moreover, AGCO will benefit from increased investments through capital expenditures, engineering spend, acquisitions and cost-reduction efforts. The company has a positive record of earnings surprises in recent quarters. However, AGCO's performance is expected to be hurt by weakness in agricultural equipment sector and dismal industry demand. Elevated expenses are also likely to hurt the company's earnings. AGCO’s estimates have been undergoing negative revisions lately. The stock has also underperformed the industry over the past year.”
- 10/10/2017 – AGCO Corporation was downgraded by analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating. They now have a $65.00 price target on the stock.
- 10/9/2017 – AGCO Corporation had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $86.00 price target on the stock, down previously from $90.00.
- 9/28/2017 – AGCO Corporation was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
- 9/21/2017 – AGCO Corporation had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $90.00 price target on the stock, up previously from $88.00.
- 9/18/2017 – AGCO Corporation was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
- 9/17/2017 – AGCO Corporation had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $66.00 price target on the stock.
- 8/31/2017 – AGCO Corporation had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $75.00 price target on the stock.
- 8/23/2017 – AGCO Corporation was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
Shares of AGCO Corporation (NYSE AGCO) traded up 0.32% during trading on Wednesday, reaching $71.81. The company’s stock had a trading volume of 504,605 shares. The company has a 50-day moving average price of $71.50 and a 200-day moving average price of $67.45. AGCO Corporation has a one year low of $48.93 and a one year high of $75.58. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 31.40 and a beta of 0.86.
AGCO Corporation (NYSE:AGCO) last issued its earnings results on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the prior year, the business earned $1.25 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities research analysts forecast that AGCO Corporation will post $3.05 earnings per share for the current fiscal year.
In related news, SVP Hans Bernd Veltmaat sold 750 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $66.52, for a total transaction of $49,890.00. Following the completion of the sale, the senior vice president now directly owns 68,552 shares in the company, valued at approximately $4,560,079.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert B. Crain sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was 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 owns 89,322 shares of the company’s stock, valued at $6,411,533.16. The disclosure for this sale can be found here. Insiders sold a total of 26,750 shares of company stock valued at $1,921,390 over the last quarter. Company insiders own 16.60% of the company’s stock.
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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