Agco Corp. (AGCO) PT Raised to $50.00 at Barclays PLC
Agco Corp. (NYSE:AGCO) had its target price hoisted by Barclays PLC from $43.00 to $50.00 in a note issued to investors on Wednesday. The brokerage currently has an “equal weight” rating on the stock. Barclays PLC’s price target would suggest a potential downside of 3.29% from the company’s current price.
A number of other equities analysts have also recently commented on the company. Zacks Investment Research upgraded Agco Corp. from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Tuesday, June 21st. JPMorgan Chase & Co. cut Agco Corp. from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $47.00 to $44.00 in a report on Monday, June 27th. Citigroup Inc. reduced their price target on Agco Corp. from $55.00 to $53.00 and set a “neutral” rating for the company in a report on Friday, July 15th. Piper Jaffray Cos. cut Agco Corp. from a “neutral” rating to an “underweight” rating and set a $37.00 price target for the company. in a report on Monday, July 25th. Finally, Morgan Stanley set a $54.00 price target on Agco Corp. and gave the stock a “hold” rating in a report on Friday, August 5th. 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 company. The stock has a consensus rating of “Hold” and a consensus target price of $49.00.
Shares of Agco Corp. (NYSE:AGCO) traded up 0.35% on Wednesday, reaching $51.88. The company’s stock had a trading volume of 133,768 shares. Agco Corp. has a 52-week low of $42.40 and a 52-week high of $56.00. The company has a 50 day moving average price of $48.30 and a 200 day moving average price of $49.74. The company has a market cap of $4.21 billion, a P/E ratio of 23.32 and a beta of 1.32.
Agco Corp. (NYSE:AGCO) last released its earnings results on Thursday, August 4th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.88 billion. Agco Corp. had a return on equity of 7.72% and a net margin of 2.58%. Agco Corp.’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. On average, analysts anticipate that Agco Corp. will post $2.31 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Thursday, August 11th. Agco Corp.’s dividend payout ratio (DPR) is currently 23.64%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Agco Corp. by 1.8% in the second quarter. Vanguard Group Inc. now owns 5,268,974 shares of the company’s stock valued at $248,327,000 after buying an additional 90,825 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Agco Corp. by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,648,293 shares of the company’s stock valued at $124,809,000 after buying an additional 49,498 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Agco Corp. by 5.6% in the second quarter. BlackRock Fund Advisors now owns 2,573,088 shares of the company’s stock valued at $121,270,000 after buying an additional 136,571 shares in the last quarter. AGF Investments Inc. increased its position in shares of Agco Corp. by 18.7% in the second quarter. AGF Investments Inc. now owns 1,411,182 shares of the company’s stock valued at $66,495,000 after buying an additional 221,904 shares in the last quarter. Finally, Allianz Asset Management AG increased its position in shares of Agco Corp. by 1.0% in the second quarter. Allianz Asset Management AG now owns 1,247,300 shares of the company’s stock valued at $58,785,000 after buying an additional 12,100 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.
About Agco Corp.
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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