Adecoagro (NYSE:AGRO) Reaches New 12-Month High After Analyst Upgrade

Adecoagro S.A. (NYSE:AGRO) shares reached a new 52-week high on Tuesday after Morgan Stanley upgraded the stock from an underweight rating to an equal weight rating. Morgan Stanley now has a $13.00 price target on the stock, up from their previous price target of $9.50. Adecoagro traded as high as $12.38 and last traded at $12.1960, with a volume of 1546313 shares. The stock had previously closed at $10.90.

A number of other brokerages have also recently issued reports on AGRO. Zacks Research cut shares of Adecoagro from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Bank of America raised shares of Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price target on the stock in a research report on Friday, January 9th. Truist Financial set a $9.00 price target on Adecoagro in a research note on Friday, January 9th. JPMorgan Chase & Co. assumed coverage on Adecoagro in a report on Monday, December 1st. They set an “underweight” rating and a $7.00 price objective for the company. Finally, Wall Street Zen downgraded Adecoagro from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.20.

Institutional Investors Weigh In On Adecoagro

A number of hedge funds have recently modified their holdings of the stock. Principal Securities Inc. lifted its stake in Adecoagro by 4.3% in the fourth quarter. Principal Securities Inc. now owns 44,530 shares of the company’s stock valued at $353,000 after purchasing an additional 1,851 shares during the last quarter. Ping Capital Management Inc. increased its position in Adecoagro by 3.1% in the third quarter. Ping Capital Management Inc. now owns 100,000 shares of the company’s stock worth $784,000 after buying an additional 3,000 shares during the last quarter. State of Wyoming raised its stake in shares of Adecoagro by 17.8% in the third quarter. State of Wyoming now owns 20,270 shares of the company’s stock valued at $159,000 after buying an additional 3,067 shares during the period. Quantbot Technologies LP raised its stake in shares of Adecoagro by 7.5% in the third quarter. Quantbot Technologies LP now owns 61,776 shares of the company’s stock valued at $484,000 after buying an additional 4,286 shares during the period. Finally, R Squared Ltd lifted its position in shares of Adecoagro by 61.1% during the 3rd quarter. R Squared Ltd now owns 22,302 shares of the company’s stock valued at $175,000 after buying an additional 8,462 shares during the last quarter. Institutional investors own 45.25% of the company’s stock.

Adecoagro Price Performance

The company has a current ratio of 1.38, a quick ratio of 1.56 and a debt-to-equity ratio of 0.77. The stock has a market cap of $1.37 billion, a PE ratio of -170.63 and a beta of 0.44. The business has a 50-day moving average price of $9.19 and a 200 day moving average price of $8.37.

Adecoagro (NYSE:AGRO) last announced its quarterly earnings data on Monday, March 16th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). The firm had revenue of $415.94 million during the quarter, compared to the consensus estimate of $371.95 million. Adecoagro had a negative net margin of 0.55% and a negative return on equity of 1.17%. As a group, research analysts forecast that Adecoagro S.A. will post 1.24 earnings per share for the current fiscal year.

Adecoagro Company Profile

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.