Citigroup Lowers AGCO (NYSE:AGCO) Price Target to $115.00

AGCO (NYSE:AGCO) had its price objective dropped by investment analysts at Citigroup from $120.00 to $115.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price objective suggests a potential upside of 9.16% from the stock’s current price.

AGCO has been the subject of a number of other research reports. Barclays boosted their price target on shares of AGCO from $110.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Oppenheimer reissued an “outperform” rating and issued a $123.00 price target on shares of AGCO in a research note on Monday. Truist Financial reissued a “buy” rating and issued a $123.00 price target (down previously from $142.00) on shares of AGCO in a research note on Monday. Wall Street Zen raised shares of AGCO from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Zacks Research cut shares of AGCO from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, AGCO presently has an average rating of “Hold” and a consensus price target of $113.67.

AGCO Price Performance

NYSE:AGCO traded up $2.19 during mid-day trading on Monday, hitting $105.35. 392,278 shares of the stock traded hands, compared to its average volume of 848,510. The business’s 50-day moving average price is $108.68 and its 200 day moving average price is $105.25. The company has a market cap of $7.86 billion, a PE ratio of 78.66, a price-to-earnings-growth ratio of 1.73 and a beta of 1.23. AGCO has a 12-month low of $73.79 and a 12-month high of $121.16. The company has a quick ratio of 0.67, a current ratio of 1.48 and a debt-to-equity ratio of 0.66.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Friday, October 31st. The industrial products company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.26 by $0.09. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.48 billion. AGCO had a net margin of 0.98% and a return on equity of 8.27%. AGCO’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. On average, analysts expect that AGCO will post 4.2 EPS for the current fiscal year.

AGCO announced that its board has approved a share buyback plan on Wednesday, July 9th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 12.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $109.40, for a total transaction of $1,094,000.00. Following the completion of the sale, the senior vice president directly owned 16,189 shares in the company, valued at $1,771,076.60. This represents a 38.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 16.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AGCO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGCO. GAMMA Investing LLC raised its holdings in AGCO by 66.9% in the 1st quarter. GAMMA Investing LLC now owns 908 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 364 shares in the last quarter. Teacher Retirement System of Texas bought a new position in AGCO in the 1st quarter worth $1,212,000. Bank of New York Mellon Corp raised its holdings in AGCO by 62.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,135,672 shares of the industrial products company’s stock worth $105,129,000 after purchasing an additional 436,237 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in AGCO by 9.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 99,951 shares of the industrial products company’s stock worth $9,252,000 after purchasing an additional 8,293 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in AGCO by 3.6% in the 1st quarter. M&T Bank Corp now owns 38,977 shares of the industrial products company’s stock worth $3,609,000 after purchasing an additional 1,356 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.

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.