AGCO (NYSE:AGCO) Price Target Cut to $104.00 by Analysts at UBS Group

AGCO (NYSE:AGCO) had its price objective decreased by UBS Group from $107.00 to $104.00 in a research note published on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the industrial products company’s stock.

Several other brokerages also recently weighed in on AGCO. Truist Financial reissued a buy rating and set a $118.00 price target (down previously from $130.00) on shares of AGCO in a research report on Wednesday. The Goldman Sachs Group reduced their price target on shares of AGCO from $127.00 to $112.00 and set a neutral rating for the company in a research report on Thursday, July 11th. Barclays reduced their price target on shares of AGCO from $145.00 to $110.00 and set an equal weight rating for the company in a research report on Thursday, July 18th. Oppenheimer reduced their price target on shares of AGCO from $133.00 to $132.00 and set an outperform rating for the company in a research report on Monday, July 22nd. Finally, Raymond James began coverage on shares of AGCO in a research report on Friday, June 28th. They set a market perform rating for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $121.20.

AGCO Stock Performance

Shares of AGCO opened at $89.57 on Wednesday. The company has a 50-day simple moving average of $100.24 and a two-hundred day simple moving average of $110.55. AGCO has a one year low of $88.12 and a one year high of $132.94. The firm has a market capitalization of $6.68 billion, a PE ratio of 6.06, a price-to-earnings-growth ratio of 0.86 and a beta of 1.27. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.52 and a quick ratio of 1.09.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.90 by ($0.37). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the previous year, the business posted $4.29 earnings per share. AGCO’s revenue for the quarter was down 15.1% on a year-over-year basis. On average, analysts anticipate that AGCO will post 7.89 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Thursday, August 15th. AGCO’s payout ratio is 7.85%.

Institutional Investors Weigh In On AGCO

A number of hedge funds have recently modified their holdings of the business. Chase Investment Counsel Corp bought a new stake in shares of AGCO during the 2nd quarter valued at $1,114,000. Impact Partnership Wealth LLC grew its position in shares of AGCO by 99,625.0% during the 2nd quarter. Impact Partnership Wealth LLC now owns 3,989 shares of the industrial products company’s stock valued at $390,000 after acquiring an additional 3,985 shares during the period. Hodges Capital Management Inc. grew its position in shares of AGCO by 0.8% during the 2nd quarter. Hodges Capital Management Inc. now owns 17,520 shares of the industrial products company’s stock valued at $1,715,000 after acquiring an additional 143 shares during the period. CIBC Asset Management Inc lifted its stake in shares of AGCO by 18.6% during the 2nd quarter. CIBC Asset Management Inc now owns 2,088 shares of the industrial products company’s stock valued at $204,000 after buying an additional 327 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of AGCO by 0.4% during the 2nd quarter. Natixis Advisors LLC now owns 38,750 shares of the industrial products company’s stock valued at $3,793,000 after buying an additional 145 shares in the last quarter. 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.