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

AGCO (NYSE:AGCO) had its price target boosted by analysts at Truist Financial from $109.00 to $118.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target suggests a potential upside of 15.81% from the company’s previous close.

A number of other research firms have also recently commented on AGCO. Citigroup cut their target price on AGCO from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday. Oppenheimer reduced their target price on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Morgan Stanley assumed coverage on AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 target price for the company. The Goldman Sachs Group cut their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, StockNews.com upgraded shares of AGCO from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, AGCO currently has an average rating of “Hold” and an average target price of $107.40.

AGCO Stock Performance

NYSE:AGCO opened at $101.89 on Thursday. The firm has a market capitalization of $7.61 billion, a PE ratio of 45.08, a PEG ratio of 0.90 and a beta of 1.25. The stock’s fifty day moving average is $95.47 and its 200 day moving average is $94.97. AGCO has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. AGCO’s revenue was down 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.97 EPS. On average, sell-side analysts anticipate that AGCO will post 7.34 earnings per share for the current year.

Institutional Trading of AGCO

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in shares of AGCO by 17.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock worth $221,187,000 after acquiring an additional 335,092 shares in the last quarter. Pacer Advisors Inc. grew its stake in AGCO by 34.3% in the third quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock valued at $206,525,000 after purchasing an additional 538,955 shares during the last quarter. State Street Corp grew its stake in AGCO by 4.3% in the third quarter. State Street Corp now owns 1,978,963 shares of the industrial products company’s stock valued at $193,661,000 after purchasing an additional 80,846 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in AGCO by 3.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock worth $181,775,000 after purchasing an additional 66,303 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of AGCO by 53.0% during the second quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock valued at $171,090,000 after buying an additional 605,509 shares during the last quarter. 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.