Oppenheimer Forecasts Strong Price Appreciation for AGCO (NYSE:AGCO) Stock

AGCO (NYSE:AGCO) had its target price increased by investment analysts at Oppenheimer from $123.00 to $128.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target would indicate a potential upside of 21.13% from the stock’s current price.

AGCO has been the subject of several other reports. Weiss Ratings restated a “hold (c-)” rating on shares of AGCO in a research note on Monday. UBS Group reissued a “neutral” rating and issued a $119.00 price objective (up previously from $100.00) on shares of AGCO in a research report on Friday, August 8th. Truist Financial reaffirmed a “buy” rating and set a $123.00 target price (down from $142.00) on shares of AGCO in a research report on Monday, November 3rd. JPMorgan Chase & Co. raised their price target on AGCO from $135.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Finally, Wells Fargo & Company initiated coverage on AGCO in a research note on Thursday, November 13th. They set an “equal weight” rating and a $114.00 price target on the stock. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $114.20.

AGCO Price Performance

Shares of AGCO stock opened at $105.67 on Wednesday. The stock’s 50-day moving average is $106.58 and its 200 day moving average is $107.24. AGCO has a 1-year low of $73.79 and a 1-year high of $121.16. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 0.73. The company has a market cap of $7.89 billion, a P/E ratio of 21.01, a PEG ratio of 1.68 and a beta of 1.18.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Friday, October 31st. The industrial products company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.26 by $0.09. AGCO had a net margin of 3.73% and a return on equity of 9.36%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.48 billion. During the same period in the prior year, the firm posted $0.68 earnings per share. The company’s quarterly revenue was down 4.7% on a year-over-year basis. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. Research analysts predict that AGCO will post 4.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Kelvin Eugene Bennett sold 250 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $104.28, for a total value of $26,070.00. Following the transaction, the senior vice president owned 17,130 shares in the company, valued at approximately $1,786,316.40. This represents a 1.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 16.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its stake in shares of AGCO by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,985,474 shares of the industrial products company’s stock worth $646,648,000 after purchasing an additional 481,146 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of AGCO by 1.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,461,860 shares of the industrial products company’s stock valued at $370,665,000 after purchasing an additional 61,383 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in AGCO by 14.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,306,812 shares of the industrial products company’s stock worth $306,112,000 after buying an additional 405,022 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in AGCO by 32.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,840,125 shares of the industrial products company’s stock worth $304,092,000 after buying an additional 700,558 shares in the last quarter. Finally, Invesco Ltd. grew its position in AGCO by 20.6% during the third quarter. Invesco Ltd. now owns 2,086,933 shares of the industrial products company’s stock valued at $223,448,000 after buying an additional 356,560 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Company Profile

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.