StockNews.com Downgrades AGCO (NYSE:AGCO) to Sell

StockNews.com lowered shares of AGCO (NYSE:AGCO) from a hold rating to a sell rating in a report issued on Wednesday.

Several other research analysts have also issued reports on the company. Citigroup raised their price target on AGCO from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Truist Financial raised their target price on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group decreased their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Oppenheimer cut their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Morgan Stanley started coverage on shares of AGCO in a report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, AGCO presently has a consensus rating of “Hold” and an average price target of $113.18.

AGCO Stock Performance

Shares of NYSE:AGCO opened at $97.04 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. AGCO has a 1-year low of $84.35 and a 1-year high of $130.26. The stock has a market capitalization of $7.24 billion, a P/E ratio of 42.94, a P/E/G ratio of 0.56 and a beta of 1.24. The business has a 50-day moving average price of $97.55 and a two-hundred day moving average price of $96.42.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period last year, the firm earned $3.97 earnings per share. The company’s quarterly revenue was down 24.8% on a year-over-year basis. Equities analysts predict that AGCO will post 7.36 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, November 15th. AGCO’s dividend payout ratio (DPR) is presently 51.33%.

Institutional Trading of AGCO

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in shares of AGCO by 1.7% in the second quarter. Victory Capital Management Inc. now owns 3,699,964 shares of the industrial products company’s stock worth $362,152,000 after purchasing an additional 63,432 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in 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 valued at $221,187,000 after buying an additional 335,092 shares during the last quarter. Pacer Advisors Inc. lifted its position in AGCO by 34.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock worth $206,525,000 after buying an additional 538,955 shares in the last quarter. State Street Corp boosted its stake in shares of AGCO by 4.3% during the 3rd quarter. State Street Corp now owns 1,978,963 shares of the industrial products company’s stock worth $193,661,000 after buying an additional 80,846 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of AGCO by 3.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock valued at $181,775,000 after acquiring an additional 66,303 shares in the last quarter. Institutional investors and hedge funds 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.