AGCO (NYSE:AGCO) had its target price upped by equities researchers at Royal Bank of Canada to $86.00 in a research report issued on Tuesday, May 7th, The Fly reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 27.33% from the company’s current price.
Other equities analysts have also issued research reports about the stock. ValuEngine upgraded shares of AGCO from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Zacks Investment Research upgraded shares of AGCO from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Tuesday, April 16th. Deutsche Bank set a $76.00 price objective on shares of AGCO and gave the stock a “buy” rating in a report on Friday, March 8th. Credit Suisse Group reissued a “hold” rating and issued a $63.00 target price on shares of AGCO in a research report on Tuesday, January 22nd. Finally, Citigroup boosted their target price on shares of AGCO from $65.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. AGCO has a consensus rating of “Hold” and an average target price of $71.50.
Shares of NYSE:AGCO traded up $1.03 during midday trading on Tuesday, hitting $67.54. 636,858 shares of the company’s stock traded hands, compared to its average volume of 669,699. The company has a current ratio of 1.30, a quick ratio of 0.54 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.00 and a beta of 0.88. AGCO has a twelve month low of $49.50 and a twelve month high of $75.56.
AGCO (NYSE:AGCO) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.44. AGCO had a net margin of 3.49% and a return on equity of 11.62%. The business 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 business posted $0.30 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts predict that AGCO will post 4.93 earnings per share for the current year.
In related news, Chairman Martin Richenhagen sold 51,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $70.43, for a total transaction of $3,591,930.00. Following the completion of the sale, the chairman now owns 503,733 shares of the company’s stock, valued at approximately $35,477,915.19. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Robert B. Crain sold 25,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.86, for a total transaction of $1,821,500.00. Following the sale, the senior vice president now directly owns 81,914 shares of the company’s stock, valued at approximately $5,968,254.04. The disclosure for this sale can be found here. Insiders sold a total of 229,000 shares of company stock valued at $16,217,780 in the last three months. Insiders own 17.60% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Millennium Management LLC grew its position in AGCO by 310.9% in the 4th quarter. Millennium Management LLC now owns 1,204,363 shares of the industrial products company’s stock worth $67,047,000 after purchasing an additional 911,239 shares during the last quarter. HRT Financial LLC bought a new position in AGCO in the 4th quarter worth about $5,582,000. Rhumbline Advisers grew its position in AGCO by 45.4% in the 4th quarter. Rhumbline Advisers now owns 166,697 shares of the industrial products company’s stock worth $9,280,000 after purchasing an additional 52,044 shares during the last quarter. LMR Partners LLP bought a new position in AGCO in the 4th quarter worth about $1,169,000. Finally, Gabelli Funds LLC grew its position in AGCO by 11.1% in the 1st quarter. Gabelli Funds LLC now owns 15,000 shares of the industrial products company’s stock worth $1,043,000 after purchasing an additional 1,500 shares during the last quarter. 80.88% of the stock is owned by institutional investors and hedge funds.
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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