Adecoagro (NYSE:AGRO) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Shares of Adecoagro S.A. (NYSE:AGRO) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.47 and traded as high as $11.79. Adecoagro shares last traded at $11.66, with a volume of 468,714 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AGRO shares. Bank of America lowered their target price on shares of Adecoagro from $15.50 to $14.50 and set a “buy” rating for the company in a report on Monday, September 9th. Morgan Stanley downgraded shares of Adecoagro from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $14.50 to $12.50 in a research note on Tuesday, September 17th. UBS Group initiated coverage on Adecoagro in a research note on Monday, October 14th. They set a “neutral” rating and a $12.00 target price on the stock. Finally, StockNews.com lowered Adecoagro from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.63.

Adecoagro Stock Up 0.1 %

The stock has a market cap of $1.21 billion, a PE ratio of 4.89, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08. The business has a fifty day moving average of $11.25 and a 200-day moving average of $10.48. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 0.98.

Adecoagro (NYSE:AGRO) last issued its earnings results on Monday, August 12th. The company reported $1.03 earnings per share for the quarter. Adecoagro had a return on equity of 14.91% and a net margin of 16.28%. The business had revenue of $411.42 million during the quarter. Equities research analysts anticipate that Adecoagro S.A. will post 1.68 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new stake in Adecoagro during the 2nd quarter valued at $42,000. Quarry LP lifted its stake in shares of Adecoagro by 259.4% during the 2nd quarter. Quarry LP now owns 7,598 shares of the company’s stock worth $74,000 after purchasing an additional 5,484 shares during the last quarter. Blue Trust Inc. boosted its position in Adecoagro by 1,281.5% during the third quarter. Blue Trust Inc. now owns 7,322 shares of the company’s stock valued at $81,000 after purchasing an additional 6,792 shares in the last quarter. nVerses Capital LLC purchased a new position in Adecoagro in the third quarter valued at about $94,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Adecoagro in the first quarter valued at about $128,000. 45.25% of the stock is currently owned by institutional investors.

Adecoagro Company Profile

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.