AGCO (NYSE:AGCO) Price Target Lowered to $106.00 at Oppenheimer

AGCO (NYSE:AGCO) had its price target decreased by research analysts at Oppenheimer from $109.00 to $106.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s target price would indicate a potential upside of 30.74% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. Robert W. Baird lowered AGCO from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $116.00 to $100.00 in a report on Monday, March 3rd. Truist Financial lowered their target price on shares of AGCO from $125.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a report on Tuesday. Morgan Stanley cut AGCO from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $94.00 to $75.00 in a research report on Wednesday, April 16th. Finally, UBS Group dropped their price target on shares of AGCO from $100.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. One 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $98.00.

AGCO Price Performance

NYSE AGCO traded up $1.17 on Tuesday, reaching $81.08. The company’s stock had a trading volume of 33,105 shares, compared to its average volume of 890,054. The firm’s 50 day moving average is $91.78 and its two-hundred day moving average is $95.52. The stock has a market cap of $6.05 billion, a PE ratio of -14.25, a PEG ratio of 1.80 and a beta of 1.16. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. AGCO has a twelve month low of $73.79 and a twelve month high of $121.49.

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

Hedge Funds Weigh In On AGCO

A number of hedge funds have recently made changes to their positions in AGCO. Allworth Financial LP grew its position in AGCO by 333.3% in the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 220 shares during the period. GeoWealth Management LLC bought a new position in AGCO during the 4th quarter valued at about $27,000. UMB Bank n.a. grew its stake in AGCO by 84.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after buying an additional 154 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of AGCO in the fourth quarter valued at approximately $33,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of AGCO by 112.3% in the 4th quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 265 shares in the last quarter. Institutional investors and hedge funds 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.