Agco Corp. (AGCO) Upgraded by Wells Fargo & Co. to “Outperform”
A number of other brokerages have also weighed in on AGCO. Zacks Investment Research lowered Agco Corp. from a buy rating to a hold rating in a report on Tuesday, June 28th. Jefferies Group restated a buy rating on shares of Agco Corp. in a report on Friday, August 5th. Morgan Stanley set a $54.00 price objective on Agco Corp. and gave the company a hold rating in a report on Friday, August 5th. JPMorgan Chase & Co. lowered Agco Corp. from a neutral rating to an underweight rating and decreased their price objective for the company from $47.00 to $44.00 in a report on Monday, June 27th. Finally, Deutsche Bank AG assumed coverage on Agco Corp. in a report on Tuesday, September 6th. They set a hold rating and a $54.00 price target on the stock. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $48.75.
Agco Corp. (NYSE:AGCO) traded up 0.02% during mid-day trading on Monday, reaching $52.04. 38,591 shares of the company were exchanged. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 23.39 and a beta of 1.32. Agco Corp. has a 1-year low of $42.40 and a 1-year high of $56.00. The stock’s 50-day moving average price is $48.23 and its 200-day moving average price is $49.73.
Agco Corp. (NYSE:AGCO) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.88 billion. Agco Corp. had a return on equity of 7.72% and a net margin of 2.58%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. On average, equities research analysts anticipate that Agco Corp. will post $2.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, August 11th. Agco Corp.’s payout ratio is 23.64%.
Large investors have recently bought and sold shares of the company. Mason Street Advisors LLC acquired a new stake in Agco Corp. during the second quarter valued at $1,524,000. Royal Bank of Canada boosted its stake in Agco Corp. by 110.1% in the second quarter. Royal Bank of Canada now owns 309,793 shares of the company’s stock valued at $14,599,000 after buying an additional 162,373 shares during the last quarter. Calvert Investment Management Inc. boosted its stake in Agco Corp. by 2.7% in the second quarter. Calvert Investment Management Inc. now owns 5,702 shares of the company’s stock valued at $269,000 after buying an additional 148 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Agco Corp. by 7.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 218,290 shares of the company’s stock valued at $10,289,000 after buying an additional 14,713 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in Agco Corp. by 3.6% in the second quarter. Amalgamated Bank now owns 9,477 shares of the company’s stock valued at $455,000 after buying an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.
Agco Corp. Company Profile
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems.
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