AGCO (NYSE:AGCO) Earns Overweight Rating from Analysts at Stephens

Stock analysts at Stephens started coverage on shares of AGCO (NYSE:AGCO) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set an “overweight” rating on the industrial products company’s stock.

Several other analysts have also issued reports on AGCO. Wells Fargo & Co lowered AGCO from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $90.00 to $80.00 in a research note on Wednesday, July 17th. Credit Suisse Group reiterated a “neutral” rating and issued a $83.00 price target (up from $70.00) on shares of AGCO in a research report on Wednesday, July 31st. UBS Group lifted their price target on AGCO from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. ValuEngine cut AGCO from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Jefferies Financial Group upgraded AGCO from a “hold” rating to a “buy” rating and lifted their price target for the company from $70.00 to $90.00 in a research report on Monday, June 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $76.86.

Shares of AGCO traded down $3.74 during mid-day trading on Wednesday, hitting $64.13. The stock had a trading volume of 65,214 shares, compared to its average volume of 621,862. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 1.08 and a beta of 0.94. The stock’s fifty day moving average price is $75.61. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 1.29. AGCO has a 52 week low of $49.50 and a 52 week high of $80.64.

AGCO (NYSE:AGCO) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.55 billion. AGCO had a return on equity of 12.64% and a net margin of 4.07%. The business’s revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.32 earnings per share. As a group, research analysts predict that AGCO will post 5.09 earnings per share for the current year.

In other news, Chairman Martin Richenhagen sold 45,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $77.14, for a total value of $3,471,300.00. Following the completion of the sale, the chairman now owns 447,317 shares of the company’s stock, valued at approximately $34,506,033.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Richard Robinson Smith sold 4,651 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $72.77, for a total value of $338,453.27. Following the completion of the sale, the vice president now directly owns 90,796 shares of the company’s stock, valued at approximately $6,607,224.92. The disclosure for this sale can be found here. Insiders sold a total of 117,977 shares of company stock valued at $8,707,768 over the last quarter. Company insiders own 17.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan lifted its stake in shares of AGCO by 1.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,880 shares of the industrial products company’s stock valued at $922,000 after acquiring an additional 130 shares during the last quarter. LPL Financial LLC raised its position in AGCO by 5.6% during the 2nd quarter. LPL Financial LLC now owns 3,064 shares of the industrial products company’s stock valued at $238,000 after purchasing an additional 163 shares during the last quarter. Advisor Group Inc. raised its position in AGCO by 15.8% during the 2nd quarter. Advisor Group Inc. now owns 1,648 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 225 shares during the last quarter. Retirement Systems of Alabama raised its position in AGCO by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 83,894 shares of the industrial products company’s stock valued at $6,508,000 after purchasing an additional 230 shares during the last quarter. Finally, Hanson & Doremus Investment Management raised its position in AGCO by 2.0% during the 1st quarter. Hanson & Doremus Investment Management now owns 13,000 shares of the industrial products company’s stock valued at $904,000 after purchasing an additional 250 shares during the last quarter. 79.27% of the stock is owned by institutional investors.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, and residential uses.

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The Fly

Analyst Recommendations for AGCO (NYSE:AGCO)

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