Truist Financial Lowers AGCO (NYSE:AGCO) Price Target to $137.00

AGCO (NYSE:AGCO) had its price target dropped by investment analysts at Truist Financial from $142.00 to $137.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target suggests a potential upside of 22.53% from the stock’s previous close.

A number of other brokerages have also commented on AGCO. StockNews.com cut AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. raised their price target on AGCO from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, Oppenheimer boosted their price objective on AGCO from $153.00 to $154.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $141.83.

AGCO Stock Performance

Shares of NYSE:AGCO opened at $111.81 on Friday. The business has a fifty day moving average of $116.61 and a 200-day moving average of $116.88. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 1.99. AGCO has a twelve month low of $105.77 and a twelve month high of $140.46. The firm has a market cap of $8.34 billion, a PE ratio of 7.56, a price-to-earnings-growth ratio of 0.69 and a beta of 1.32.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.03. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the company posted $3.51 EPS. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. On average, equities research analysts predict that AGCO will post 12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in shares of AGCO by 356.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 31,258 shares of the industrial products company’s stock valued at $3,697,000 after buying an additional 24,408 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in AGCO by 23.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 104,597 shares of the industrial products company’s stock worth $12,372,000 after acquiring an additional 19,893 shares in the last quarter. Xponance Inc. grew its stake in AGCO by 19.1% in the third quarter. Xponance Inc. now owns 9,017 shares of the industrial products company’s stock valued at $1,067,000 after acquiring an additional 1,448 shares during the period. FinTrust Capital Advisors LLC bought a new stake in shares of AGCO in the third quarter worth about $26,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of AGCO by 161.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 10,461 shares of the industrial products company’s stock worth $1,237,000 after purchasing an additional 6,467 shares during the period. Institutional investors own 78.80% of the company’s stock.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; 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, equestrian, and residential uses.