AGCO (NYSE:AGCO) Upgraded to Buy at Citigroup

AGCO (NYSE:AGCO) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Tuesday,Benzinga reports. The firm currently has a $90.00 price objective on the industrial products company’s stock, down from their prior price objective of $98.00. Citigroup’s price target indicates a potential upside of 15.32% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. JPMorgan Chase & Co. increased their target price on AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 15th. Robert W. Baird lowered shares of AGCO from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $116.00 to $100.00 in a report on Monday, March 3rd. Oppenheimer boosted their target price on shares of AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. StockNews.com cut shares of AGCO from a “hold” rating to a “sell” rating in a research note on Thursday, April 3rd. Finally, UBS Group decreased their price target on shares of AGCO from $100.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, AGCO presently has an average rating of “Hold” and an average target price of $102.20.

AGCO Trading Down 1.6 %

AGCO stock opened at $78.05 on Tuesday. AGCO has a 12-month low of $73.79 and a 12-month high of $125.76. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of -13.72, a P/E/G ratio of 1.80 and a beta of 1.16. The firm has a 50 day moving average of $96.39 and a 200 day moving average of $96.74. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. As a group, research analysts predict that AGCO will post 4.2 earnings per share for the current year.

Institutional Investors Weigh In On AGCO

Several hedge funds and other institutional investors have recently modified their holdings of AGCO. CIBC Asset Management Inc increased its stake in AGCO by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company’s stock worth $212,000 after purchasing an additional 110 shares during the period. Inspire Investing LLC grew its holdings in shares of AGCO by 2.8% in the fourth quarter. Inspire Investing LLC now owns 4,299 shares of the industrial products company’s stock worth $402,000 after purchasing an additional 118 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in AGCO by 2.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,207 shares of the industrial products company’s stock worth $580,000 after buying an additional 144 shares during the period. Neuberger Berman Group LLC lifted its holdings in AGCO by 2.3% during the 4th quarter. Neuberger Berman Group LLC now owns 6,552 shares of the industrial products company’s stock valued at $612,000 after buying an additional 145 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in AGCO by 0.8% in the 4th quarter. Arizona State Retirement System now owns 18,414 shares of the industrial products company’s stock valued at $1,721,000 after buying an additional 150 shares during the period. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

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.