Citigroup Issues Positive Forecast for AGCO (NYSE:AGCO) Stock Price

AGCO (NYSE:AGCO) had its price objective boosted by analysts at Citigroup from $95.00 to $100.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price objective points to a potential upside of 1.14% from the company’s previous close.

A number of other analysts have also issued reports on the company. Morgan Stanley initiated coverage on AGCO in a report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target for the company. The Goldman Sachs Group cut their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Oppenheimer decreased their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Truist Financial boosted their price target on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, StockNews.com lowered shares of AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, November 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $113.18.

AGCO Trading Up 2.5 %

Shares of AGCO traded up $2.42 during mid-day trading on Monday, reaching $98.87. 724,888 shares of the company’s stock traded hands, compared to its average volume of 787,403. The stock has a market cap of $7.38 billion, a P/E ratio of 43.99, a P/E/G ratio of 0.55 and a beta of 1.24. The stock’s 50-day moving average is $97.51 and its two-hundred day moving average is $96.58. AGCO has a 12 month low of $84.35 and a 12 month high of $130.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.97 EPS. Research analysts forecast that AGCO will post 7.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AGCO

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in AGCO in the 3rd quarter worth $52,000. Neo Ivy Capital Management acquired a new position in shares of AGCO during the 3rd quarter worth approximately $1,676,000. Coldstream Capital Management Inc. grew its position in shares of AGCO by 9.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,329 shares of the industrial products company’s stock worth $324,000 after purchasing an additional 284 shares in the last quarter. Geode Capital Management LLC grew its position in shares of AGCO by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,205,227 shares of the industrial products company’s stock worth $121,121,000 after purchasing an additional 80,516 shares in the last quarter. Finally, M&T Bank Corp boosted its position in shares of AGCO by 133.0% during the 3rd quarter. M&T Bank Corp now owns 84,441 shares of the industrial products company’s stock worth $8,263,000 after acquiring an additional 48,198 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

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.