AGCO (NYSE:AGCO) Price Target Cut to $111.00 by Analysts at Oppenheimer

AGCO (NYSE:AGCO) had its price target reduced by Oppenheimer from $131.00 to $111.00 in a report released on Wednesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

A number of other research firms have also recently commented on AGCO. Truist Financial lifted their price objective on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird reduced their target price on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Barclays cut their price objective 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. Citigroup upped their target price on AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. dropped their price target on AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, AGCO currently has an average rating of “Hold” and a consensus target price of $114.40.

AGCO Stock Up 4.7 %

Shares of AGCO stock opened at $94.52 on Wednesday. AGCO has a 52-week low of $84.35 and a 52-week high of $130.26. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 0.94 and a beta of 1.25. The firm’s 50-day moving average is $95.60 and its 200-day moving average is $99.53. 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 (NYSE:AGCO) last released its quarterly earnings data 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). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the company earned $3.97 EPS. AGCO’s quarterly revenue was down 24.8% on a year-over-year basis. Sell-side analysts predict that AGCO will post 7.87 EPS for the current year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Friday, November 15th. AGCO’s dividend payout ratio (DPR) is currently 20.71%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC increased its stake in shares of AGCO by 93.2% in the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 110 shares during the last quarter. LRI Investments LLC acquired a new stake in AGCO in the first quarter valued at approximately $30,000. Blue Trust Inc. grew its stake in shares of AGCO by 102.4% during the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after buying an additional 174 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of AGCO by 132.9% during the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after buying an additional 210 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of AGCO by 69.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 167 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.