AGCO (NYSE:AGCO) Downgraded by ValuEngine

AGCO (NYSE:AGCO) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, May 18th, ValuEngine reports.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. raised shares of AGCO from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $66.00 to $77.00 in a report on Tuesday, May 14th. Citigroup raised their price target on AGCO from $65.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Royal Bank of Canada increased their target price on AGCO to $76.00 and gave the stock a “positive” rating in a research note on Monday, March 25th. Deutsche Bank set a $76.00 price objective on AGCO and gave the company a “buy” rating in a research report on Friday, March 8th. Finally, Zacks Investment Research raised AGCO from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $71.50.

AGCO stock traded up $0.28 during mid-day trading on Friday, reaching $70.39. 402,809 shares of the company traded hands, compared to its average volume of 614,216. AGCO has a 52-week low of $49.50 and a 52-week high of $75.56. The company has a market cap of $5.48 billion, a P/E ratio of 18.10, a PEG ratio of 1.05 and a beta of 0.89. The company has a current ratio of 1.30, a quick ratio of 0.54 and a debt-to-equity ratio of 0.52.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the business posted $0.30 EPS. AGCO’s revenue was down .6% compared to the same quarter last year. Analysts predict that AGCO will post 4.93 EPS for the current fiscal year.

In other AGCO news, Chairman Martin Richenhagen sold 102,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $70.19, for a total transaction of $7,159,380.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert B. Crain sold 25,000 shares of AGCO stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.86, for a total value of $1,821,500.00. Following the completion of the transaction, the senior vice president now owns 81,914 shares in the company, valued at approximately $5,968,254.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 229,000 shares of company stock valued at $16,217,780. Insiders own 17.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its position in shares of AGCO by 2,214.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,742,527 shares of the industrial products company’s stock worth $31,000 after buying an additional 1,667,232 shares during the period. Millennium Management LLC raised its stake in AGCO by 310.9% during the 4th quarter. Millennium Management LLC now owns 1,204,363 shares of the industrial products company’s stock valued at $67,047,000 after purchasing an additional 911,239 shares during the period. Norges Bank acquired a new stake in AGCO during the 4th quarter valued at $32,833,000. Victory Capital Management Inc. raised its stake in AGCO by 11.3% during the 4th quarter. Victory Capital Management Inc. now owns 3,479,957 shares of the industrial products company’s stock valued at $193,729,000 after purchasing an additional 354,441 shares during the period. Finally, FMR LLC raised its stake in AGCO by 29.1% during the 1st quarter. FMR LLC now owns 1,370,072 shares of the industrial products company’s stock valued at $95,288,000 after purchasing an additional 309,101 shares during the period. 80.88% of the stock is currently owned by institutional investors and hedge funds.

About AGCO

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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