AGCO (NYSE:AGCO) Rating Lowered to “Sell” at StockNews.com

AGCO (NYSE:AGCO) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

A number of other analysts have also issued reports on the stock. Oppenheimer lifted their price target on shares of AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 15th. Citigroup increased their price target on shares of AGCO from $95.00 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, March 17th. Truist Financial boosted their price objective on AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Robert W. Baird downgraded AGCO from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $116.00 to $100.00 in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $104.60.

AGCO Price Performance

Shares of AGCO stock opened at $79.45 on Thursday. AGCO has a twelve month low of $73.79 and a twelve month high of $125.76. The company has a market capitalization of $5.93 billion, a PE ratio of -13.96, a price-to-earnings-growth ratio of 1.80 and a beta of 1.16. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $96.97 and a 200-day simple moving average of $96.82.

AGCO (NYSE:AGCO) last announced its earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. Equities research analysts anticipate that AGCO will post 4.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AGCO

Several hedge funds and other institutional investors have recently modified their holdings of AGCO. Price T Rowe Associates Inc. MD grew its position in AGCO by 128.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company’s stock worth $608,026,000 after purchasing an additional 3,654,350 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in AGCO by 534.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company’s stock worth $271,259,000 after buying an additional 2,444,615 shares in the last quarter. Invesco Ltd. grew its holdings in AGCO by 68.7% in the 4th quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company’s stock worth $220,641,000 after buying an additional 961,081 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in AGCO in the 4th quarter valued at approximately $62,022,000. Finally, Norges Bank bought a new stake in AGCO during the 4th quarter valued at $57,321,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

About AGCO

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.