Wells Fargo & Co Lowers AGCO (NYSE:AGCO) to Market Perform

Wells Fargo & Co cut shares of AGCO (NYSE:AGCO) from an outperform rating to a market perform rating in a research report report published on Wednesday, BenzingaRatingsTable reports. They currently have $80.00 price target on the industrial products company’s stock, down from their previous price target of $90.00.

AGCO has been the topic of a number of other research reports. Morgan Stanley boosted their price target on Williams-Sonoma from $52.00 to $56.00 and gave the stock an underweight rating in a research note on Wednesday, July 10th. Royal Bank of Canada set a €86.00 ($100.00) price target on Henkel AG & Co KGaA and gave the stock a neutral rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. set a GBX 3,200 ($41.81) price target on Diageo and gave the stock a neutral rating in a research note on Wednesday, July 10th. OTR Global upgraded AGCO to a positive rating in a research note on Friday, July 12th. Finally, Jefferies Financial Group upgraded AGCO from a hold rating to a buy rating and boosted their price target for the stock from $70.00 to $90.00 in a research note on Monday, June 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. AGCO currently has an average rating of Hold and an average target price of $74.08.

AGCO opened at $75.75 on Wednesday. The company has a 50-day moving average of $74.23. AGCO has a 1 year low of $49.50 and a 1 year high of $79.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.30 and a quick ratio of 0.54. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.16 and a beta of 0.98.

AGCO (NYSE:AGCO) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.44. AGCO had a return on equity of 11.62% and a net margin of 3.49%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts predict that AGCO will post 4.89 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Wednesday, August 14th. AGCO’s dividend payout ratio (DPR) is 16.45%.

In related news, SVP Robert B. Crain sold 25,000 shares of AGCO stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $72.86, for a total transaction of $1,821,500.00. Following the completion of the sale, the senior vice president now owns 81,914 shares of the company’s stock, valued at $5,968,254.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Martin Richenhagen sold 45,000 shares of AGCO stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $77.14, for a total value of $3,471,300.00. Following the sale, the chairman now directly owns 447,317 shares of the company’s stock, valued at approximately $34,506,033.38. The disclosure for this sale can be found here. Insiders have sold 172,000 shares of company stock valued at $12,536,330 in the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in AGCO. Retirement Systems of Alabama lifted its holdings in AGCO by 0.3% in the second quarter. Retirement Systems of Alabama now owns 83,894 shares of the industrial products company’s stock valued at $6,508,000 after acquiring an additional 230 shares during the period. Hanson & Doremus Investment Management lifted its holdings in AGCO by 2.0% in the first quarter. Hanson & Doremus Investment Management now owns 13,000 shares of the industrial products company’s stock valued at $904,000 after acquiring an additional 250 shares during the period. Probity Advisors Inc. lifted its holdings in AGCO by 1.7% in the first quarter. Probity Advisors Inc. now owns 22,654 shares of the industrial products company’s stock valued at $1,576,000 after acquiring an additional 384 shares during the period. John G Ullman & Associates Inc. lifted its holdings in AGCO by 7.4% in the first quarter. John G Ullman & Associates Inc. now owns 5,800 shares of the industrial products company’s stock valued at $403,000 after acquiring an additional 400 shares during the period. Finally, Bronfman E.L. Rothschild L.P. lifted its holdings in AGCO by 116.6% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 771 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 415 shares during the period. 80.60% of the stock is owned by hedge funds and other institutional investors.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.

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Analyst Recommendations for AGCO (NYSE:AGCO)

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