AGCO (NYSE:AGCO) Given New $154.00 Price Target at Oppenheimer

AGCO (NYSE:AGCO) had its target price lifted by Oppenheimer from $153.00 to $154.00 in a research note released on Tuesday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Several other research analysts have also commented on AGCO. Stifel Nicolaus cut their price objective on AGCO from $160.00 to $153.00 and set a buy rating on the stock in a research report on Tuesday, December 19th. JPMorgan Chase & Co. lifted their target price on AGCO from $145.00 to $150.00 and gave the stock an overweight rating in a research report on Friday, April 12th. Truist Financial began coverage on AGCO in a research report on Thursday, March 14th. They set a buy rating and a $142.00 target price on the stock. Finally, StockNews.com lowered AGCO from a buy rating to a hold rating in a research report on Friday, February 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, AGCO currently has a consensus rating of Moderate Buy and a consensus target price of $150.50.

AGCO Stock Performance

NYSE AGCO opened at $118.80 on Tuesday. The company has a current ratio of 1.46, a quick ratio of 0.67 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $115.49 and its two-hundred day moving average is $117.13. AGCO has a 12-month low of $105.77 and a 12-month high of $140.46. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 0.66 and a beta of 1.31.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.03 by ($0.25). AGCO had a return on equity of 26.96% and a net margin of 8.13%. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the previous year, the firm posted $4.47 EPS. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. Research analysts expect that AGCO will post 13.07 EPS for the current year.

Hedge Funds Weigh In On AGCO

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP grew its holdings in shares of AGCO by 278.0% during the 2nd quarter. Quarry LP now owns 189 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 139 shares in the last quarter. Rakuten Securities Inc. purchased a new position in shares of AGCO during the 4th quarter valued at $26,000. FinTrust Capital Advisors LLC purchased a new position in shares of AGCO during the 3rd quarter valued at $26,000. Legacy Financial Group LLC purchased a new position in shares of AGCO during the 3rd quarter valued at $27,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of AGCO during the 2nd quarter valued at $36,000. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

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.