AGCO (NYSE:AGCO) Stock Price Expected to Rise, Truist Financial Analyst Says

AGCO (NYSE:AGCO) had its target price boosted by stock analysts at Truist Financial from $110.00 to $116.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price suggests a potential upside of 24.06% from the company’s current price.

A number of other brokerages also recently issued reports on AGCO. Oppenheimer lowered their price target on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Morgan Stanley assumed coverage on shares of AGCO in a research note on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target on the stock. The Goldman Sachs Group decreased their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Citigroup lifted their price target on shares of AGCO from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Finally, StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, AGCO currently has a consensus rating of “Hold” and an average price target of $108.10.

AGCO Stock Performance

AGCO stock opened at $93.50 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. The firm’s fifty day moving average price is $97.24 and its 200-day moving average price is $96.02. AGCO has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The stock has a market cap of $6.98 billion, a P/E ratio of 41.37, a price-to-earnings-growth ratio of 0.56 and a beta of 1.24.

AGCO (NYSE:AGCO) last released its quarterly 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). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the company earned $3.97 earnings per share. AGCO’s quarterly revenue was down 24.8% on a year-over-year basis. On average, equities research analysts expect that AGCO will post 7.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AGCO

Institutional investors and hedge funds have recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in AGCO during the 3rd quarter worth approximately $29,000. LRI Investments LLC boosted its holdings in AGCO by 94.3% in the second quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 165 shares during the period. Blue Trust Inc. grew its stake in AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 174 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in AGCO by 132.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 210 shares during the period. Finally, First Horizon Advisors Inc. raised its position in AGCO by 69.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

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.