AGCO (NYSE:AGCO) Price Target Cut to $145.00 by Analysts at Oppenheimer

AGCO (NYSE:AGCO) had its price target decreased by equities research analysts at Oppenheimer from $154.00 to $145.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective points to a potential upside of 28.79% from the stock’s previous close.

AGCO has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their price target on shares of AGCO from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. StockNews.com cut shares of AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Truist Financial reduced their price target on shares of AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.00.

AGCO Stock Performance

Shares of AGCO traded up $1.96 during trading hours on Friday, hitting $112.59. The company had a trading volume of 36,336 shares, compared to its average volume of 699,986. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of 7.11, a PEG ratio of 0.64 and a beta of 1.32. The business has a fifty day moving average of $116.54 and a 200-day moving average of $116.96. AGCO has a 12 month low of $105.77 and a 12 month high of $140.46. The company has a quick ratio of 0.67, a current ratio of 1.46 and a debt-to-equity ratio of 0.30.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.03. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.99 billion. AGCO had a net margin of 8.13% and a return on equity of 26.96%. The firm’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same period last year, the company posted $3.51 EPS. Equities analysts anticipate that AGCO will post 13.06 EPS for the current fiscal year.

Hedge Funds Weigh In On AGCO

Large investors have recently modified their holdings of the stock. FinTrust Capital Advisors LLC bought a new position in shares of AGCO during the 3rd quarter valued at approximately $26,000. Rakuten Securities Inc. purchased a new stake in AGCO during the fourth quarter worth $26,000. Legacy Financial Group LLC acquired a new position in shares of AGCO in the third quarter worth $27,000. BluePath Capital Management LLC acquired a new position in shares of AGCO in the third quarter worth $35,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in AGCO in the third quarter valued at $35,000. Hedge funds and other institutional investors 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.