Truist Financial Raises AGCO (NYSE:AGCO) Price Target to $127.00

AGCO (NYSE:AGCO) had its target price hoisted by investment analysts at Truist Financial from $118.00 to $127.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price indicates a potential upside of 30.73% from the stock’s previous close.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group cut their price objective on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. BMO Capital Markets began coverage on shares of AGCO in a report on Friday, August 9th. They set a “market perform” rating and a $96.00 price target on the stock. Raymond James began coverage on shares of AGCO in a report on Friday, June 28th. They set a “market perform” rating on the stock. Citigroup began coverage on shares of AGCO in a report on Wednesday, June 26th. They set a “neutral” rating and a $108.00 price target on the stock. Finally, Oppenheimer lowered their price target on shares of AGCO from $133.00 to $132.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, AGCO currently has a consensus rating of “Hold” and an average price target of $119.73.

AGCO Stock Performance

AGCO stock traded up $2.07 during mid-day trading on Wednesday, reaching $97.15. 62,936 shares of the company traded hands, compared to its average volume of 766,252. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 6.57, a price-to-earnings-growth ratio of 0.88 and a beta of 1.25. AGCO has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The firm’s fifty day moving average is $91.37 and its two-hundred day moving average is $102.57. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.52 and a quick ratio of 0.72.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.48 billion. AGCO had a return on equity of 21.17% and a net margin of 3.13%. The firm’s revenue was down 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.29 EPS. On average, equities research analysts expect that AGCO will post 8 earnings per share for the current fiscal year.

Insider Buying and Selling at AGCO

In other AGCO news, Director Michael C. Arnold bought 1,800 shares of AGCO stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average cost of $87.69 per share, for a total transaction of $157,842.00. Following the completion of the transaction, the director now directly owns 20,465 shares of the company’s stock, valued at approximately $1,794,575.85. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Lange Bob De acquired 1,420 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $87.91 per share, for a total transaction of $124,832.20. Following the completion of the transaction, the director now owns 7,007 shares in the company, valued at approximately $615,985.37. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael C. Arnold acquired 1,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $87.69 per share, with a total value of $157,842.00. Following the completion of the transaction, the director now owns 20,465 shares of the company’s stock, valued at $1,794,575.85. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On AGCO

Hedge funds and other institutional investors have recently bought and sold shares of the company. FinTrust Capital Advisors LLC increased its position in AGCO by 121.9% during the first quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 117 shares during the last quarter. Manchester Capital Management LLC increased its position in AGCO by 93.2% during the first quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 110 shares during the last quarter. LRI Investments LLC acquired a new stake in AGCO during the first quarter worth about $30,000. Blue Trust Inc. increased its position in AGCO by 102.4% during the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 174 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of AGCO by 69.0% during the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 167 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

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.