Adecoagro (NYSE:AGRO) Coverage Initiated at JPMorgan Chase & Co.

Stock analysts at JPMorgan Chase & Co. assumed coverage on shares of Adecoagro (NYSE:AGRO) in a report issued on Monday, MarketBeat.com reports. The firm set an “underweight” rating and a $7.00 price target on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 13.45% from the stock’s previous close.

Several other brokerages have also recently issued reports on AGRO. UBS Group lowered their target price on shares of Adecoagro from $9.90 to $8.50 and set a “neutral” rating for the company in a report on Wednesday, September 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Adecoagro in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Adecoagro from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. One investment analyst has rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Adecoagro presently has a consensus rating of “Strong Sell” and a consensus target price of $8.83.

Adecoagro Stock Up 0.8%

Adecoagro stock opened at $8.09 on Monday. The stock has a market cap of $808.72 million, a PE ratio of 35.17 and a beta of 0.44. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.80 and a quick ratio of 1.56. The stock’s fifty day moving average is $7.88 and its two-hundred day moving average is $8.61. Adecoagro has a 1-year low of $7.42 and a 1-year high of $11.78.

Adecoagro (NYSE:AGRO) last posted its earnings results on Monday, December 1st. The company reported $0.00 earnings per share for the quarter. The firm had revenue of $304.21 million during the quarter. Adecoagro had a return on equity of 3.09% and a net margin of 1.67%. On average, sell-side analysts expect that Adecoagro will post 1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Adecoagro

Institutional investors have recently bought and sold shares of the company. Jeppson Wealth Management LLC purchased a new position in Adecoagro during the 3rd quarter worth $124,000. State of Wyoming purchased a new position in Adecoagro during the first quarter worth about $133,000. R Squared Ltd raised its holdings in Adecoagro by 103.0% during the first quarter. R Squared Ltd now owns 15,128 shares of the company’s stock worth $169,000 after purchasing an additional 7,676 shares in the last quarter. Vise Technologies Inc. acquired a new stake in Adecoagro in the second quarter valued at about $277,000. Finally, Magnetar Financial LLC boosted its holdings in Adecoagro by 105.9% in the 2nd quarter. Magnetar Financial LLC now owns 31,615 shares of the company’s stock valued at $289,000 after purchasing an additional 16,260 shares in the last quarter. 45.25% of the stock is owned by institutional investors and hedge funds.

About Adecoagro

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.