Agco Corp. (AGCO) Price Target Lowered to $50.00 at Deutsche Bank AG
Several other brokerages have also issued reports on AGCO. Zacks Investment Research lowered Agco Corp. from a buy rating to a hold rating in a research note on Tuesday, June 28th. Jefferies Group reissued a buy rating on shares of Agco Corp. in a research note on Friday, August 5th. Morgan Stanley set a $54.00 price target on Agco Corp. and gave the company a hold rating in a research note on Friday, August 5th. Barclays PLC boosted their price target on Agco Corp. from $43.00 to $50.00 and gave the company an equal weight rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. downgraded 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. 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 currently has a consensus rating of Hold and an average target price of $49.00.
Shares of Agco Corp. (NYSE:AGCO) traded down 1.96% during trading on Wednesday, hitting $50.98. 209,666 shares of the stock traded hands. The company has a market cap of $4.14 billion, a PE ratio of 22.91 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 company has a 50 day moving average of $48.37 and a 200-day moving average of $49.76.
Agco Corp. (NYSE:AGCO) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.10. Agco Corp. had a return on equity of 7.72% and a net margin of 2.58%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. On average, equities 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. Shareholders of record on Monday, August 15th were paid a $0.13 dividend. The ex-dividend date was Thursday, August 11th. This represents a $0.52 dividend on an annualized basis and a yield of 1.00%. Agco Corp.’s dividend payout ratio is currently 23.64%.
Institutional investors have recently made changes to their positions in the company. Aperio Group LLC raised its position in shares of Agco Corp. by 9.3% in the first quarter. Aperio Group LLC now owns 44,431 shares of the company’s stock worth $2,208,000 after buying an additional 3,763 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Agco Corp. by 12.6% in the first quarter. TIAA CREF Investment Management LLC now owns 523,639 shares of the company’s stock worth $26,025,000 after buying an additional 58,495 shares in the last quarter. Teachers Advisors Inc. raised its position in shares of Agco Corp. by 17.1% in the first quarter. Teachers Advisors Inc. now owns 111,306 shares of the company’s stock worth $5,532,000 after buying an additional 16,285 shares in the last quarter. BlackRock Group LTD boosted its position in Agco Corp. by 0.4% in the first quarter. BlackRock Group LTD now owns 317,087 shares of the company’s stock worth $15,759,000 after buying an additional 1,227 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Agco Corp. by 19.1% in the first quarter. JPMorgan Chase & Co. now owns 587,574 shares of the company’s stock worth $29,203,000 after buying an additional 94,266 shares during the last quarter. Institutional investors and hedge funds 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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