Oppenheimer Has Lowered Expectations for AGCO (NYSE:AGCO) Stock Price

AGCO (NYSE:AGCO) had its price objective cut by research analysts at Oppenheimer from $131.00 to $111.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target points to a potential upside of 17.93% from the company’s previous close.

A number of other analysts also recently commented on the stock. UBS Group cut their price objective on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. StockNews.com downgraded AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Robert W. Baird lowered their price objective on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. BMO Capital Markets assumed coverage on AGCO in a research note on Friday, August 9th. They issued a “market perform” rating and a $96.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price target on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $114.40.

AGCO Price Performance

Shares of AGCO stock opened at $94.12 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.52 and a quick ratio of 0.72. The business has a 50 day simple moving average of $95.67 and a two-hundred day simple moving average of $99.49. The stock has a market capitalization of $7.03 billion, a P/E ratio of 16.81, a PEG ratio of 0.93 and a beta of 1.25. AGCO has a 12 month low of $84.35 and a 12 month high of $130.26.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the company posted $3.97 earnings per share. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. As a group, analysts predict that AGCO will post 7.87 EPS for the current fiscal year.

Hedge Funds Weigh In On AGCO

A number of hedge funds have recently made changes to their positions in the stock. Forum Financial Management LP lifted its stake in AGCO by 5.5% during the second quarter. Forum Financial Management LP now owns 2,108 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 109 shares in the last quarter. Manchester Capital Management LLC lifted its stake in AGCO by 93.2% during the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 110 shares in the last quarter. Capital Insight Partners LLC boosted its holdings in AGCO by 2.6% during the 2nd quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company’s stock valued at $431,000 after acquiring an additional 110 shares during the period. Oppenheimer & Co. Inc. grew its position in AGCO by 0.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company’s stock valued at $1,666,000 after acquiring an additional 126 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in AGCO by 50.2% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 139 shares during the period. Hedge funds and other institutional investors 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.