AGCO (NYSE:AGCO) Price Target Raised to $109.00 at Oppenheimer

AGCO (NYSE:AGCO) had its price objective lifted by investment analysts at Oppenheimer from $108.00 to $109.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target would indicate a potential upside of 2.54% from the stock’s previous close.

A number of other brokerages also recently weighed in on AGCO. StockNews.com upgraded shares of AGCO from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Citigroup cut their target price on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley initiated coverage on shares of AGCO in a research note on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 target price for the company. The Goldman Sachs Group dropped their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Finally, Truist Financial increased their price target on shares of AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $107.20.

AGCO Trading Up 1.3 %

NYSE:AGCO opened at $106.30 on Tuesday. AGCO has a 12 month low of $84.35 and a 12 month high of $130.26. The firm has a fifty day simple moving average of $96.94 and a 200-day simple moving average of $95.34. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $7.93 billion, a P/E ratio of 46.82, a PEG ratio of 1.03 and a beta of 1.25.

AGCO (NYSE:AGCO) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (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 analyst estimates of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.97 earnings per share. On average, equities research analysts anticipate that AGCO will post 7.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC lifted its stake in shares of AGCO by 172.8% in the 2nd quarter. Millennium Management LLC now owns 100,153 shares of the industrial products company’s stock worth $9,803,000 after acquiring an additional 63,434 shares during the period. Creative Planning lifted its stake in shares of AGCO by 25.7% in the 2nd quarter. Creative Planning now owns 7,157 shares of the industrial products company’s stock worth $701,000 after acquiring an additional 1,465 shares during the period. Quarry LP lifted its stake in shares of AGCO by 294.9% in the 2nd quarter. Quarry LP now owns 699 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 522 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of AGCO in the 2nd quarter worth $876,000. Finally, Cim LLC lifted its stake in shares of AGCO by 22.9% in the 2nd quarter. Cim LLC now owns 9,971 shares of the industrial products company’s stock worth $976,000 after acquiring an additional 1,858 shares during the period. 78.80% 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. 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.