Citigroup Raises AGCO (NYSE:AGCO) Price Target to $100.00

AGCO (NYSE:AGCO) had its price objective raised by investment analysts at Citigroup from $88.00 to $100.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s target price indicates a potential upside of 2.95% from the stock’s current price.

Several other research firms have also commented on AGCO. JPMorgan Chase & Co. lowered their price target on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Robert W. Baird cut their price target on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. The Goldman Sachs Group cut their target price on AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. StockNews.com cut AGCO from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, UBS Group cut their price objective on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $119.00.

AGCO Stock Performance

Shares of NYSE AGCO traded up $2.05 during midday trading on Wednesday, hitting $97.13. The company’s stock had a trading volume of 362,935 shares, compared to its average volume of 767,790. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.72 and a current ratio of 1.52. AGCO has a 1-year low of $84.35 and a 1-year high of $130.26. The firm’s fifty day moving average price is $91.37 and its 200-day moving average price is $102.57. The firm has a market cap of $7.25 billion, a P/E ratio of 6.57, a P/E/G ratio of 0.88 and a beta of 1.25.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On AGCO

Several hedge funds have recently made changes to their positions in AGCO. FinTrust Capital Advisors LLC raised its stake in AGCO by 121.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 117 shares during the period. Manchester Capital Management LLC raised 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 valued at $28,000 after buying an additional 110 shares during the period. LRI Investments LLC purchased a new stake in AGCO in the 1st quarter worth about $30,000. Blue Trust Inc. boosted its position 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 acquiring an additional 174 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in AGCO by 69.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 167 shares during the period. 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.