Jefferies Group LLC Reaffirms “Hold” Rating for AGCO Corporation (AGCO)
Jefferies Group LLC reissued their hold rating on shares of AGCO Corporation (NYSE:AGCO) in a report released on Thursday morning. The brokerage currently has a $75.00 price objective on the industrial products company’s stock.
A number of other research firms have also recently commented on AGCO. Piper Jaffray Companies set a $66.00 target price on shares of AGCO Corporation and gave the stock a hold rating in a research note on Wednesday, August 9th. Royal Bank Of Canada reissued a hold rating and set a $64.00 target price on shares of AGCO Corporation in a research note on Tuesday, June 6th. UBS AG raised shares of AGCO Corporation from a sell rating to a neutral rating and boosted their target price for the stock from $52.00 to $68.00 in a research note on Wednesday, June 21st. TheStreet raised shares of AGCO Corporation from a c+ rating to a b+ rating in a research note on Thursday, July 27th. Finally, BidaskClub raised shares of AGCO Corporation from a hold rating to a buy rating in a research note on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. AGCO Corporation has an average rating of Hold and an average price target of $65.73.
AGCO Corporation (NYSE AGCO) opened at 68.41 on Thursday. AGCO Corporation has a 12-month low of $46.22 and a 12-month high of $73.97. The firm’s 50 day moving average is $69.97 and its 200 day moving average is $65.04. The company has a market cap of $5.44 billion, a P/E ratio of 29.91 and a beta of 0.89.
AGCO Corporation (NYSE:AGCO) last released its earnings results on Thursday, July 27th. The industrial products company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.11. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.08 billion. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.25 earnings per share. Equities research analysts anticipate that AGCO Corporation will post $3.05 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.56 annualized dividend and a yield of 0.82%. AGCO Corporation’s payout ratio is 24.56%.
In other AGCO Corporation news, CFO Andrew H. Beck sold 10,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $72.18, for a total value of $721,800.00. Following the transaction, the chief financial officer now directly owns 142,079 shares in the company, valued at approximately $10,255,262.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Lucinda B. Smith sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $73.00, for a total transaction of $73,000.00. Following the completion of the transaction, the senior vice president now owns 38,877 shares in the company, valued at $2,838,021. The disclosure for this sale can be found here. Insiders sold a total of 26,750 shares of company stock worth $1,921,390 over the last quarter. 16.60% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. World Asset Management Inc raised its position in AGCO Corporation by 0.7% in the first quarter. World Asset Management Inc now owns 5,189 shares of the industrial products company’s stock valued at $312,000 after buying an additional 36 shares during the last quarter. Capstone Asset Management Co. increased its stake in AGCO Corporation by 0.6% in the first quarter. Capstone Asset Management Co. now owns 8,140 shares of the industrial products company’s stock worth $490,000 after buying an additional 50 shares during the period. Raymond James Trust N.A. increased its stake in AGCO Corporation by 0.9% in the second quarter. Raymond James Trust N.A. now owns 6,427 shares of the industrial products company’s stock worth $434,000 after buying an additional 56 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in AGCO Corporation by 0.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,584 shares of the industrial products company’s stock worth $577,000 after buying an additional 61 shares during the period. Finally, Utah Retirement Systems increased its stake in AGCO Corporation by 0.8% in the first quarter. Utah Retirement Systems now owns 12,764 shares of the industrial products company’s stock worth $769,000 after buying an additional 100 shares during the period. Institutional investors own 80.68% of the company’s stock.
AGCO Corporation Company Profile
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
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