Zacks Research Downgrades Adecoagro (NYSE:AGRO) to Hold

Adecoagro (NYSE:AGRO) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Adecoagro from a “hold” rating to a “sell” rating in a research report on Sunday, November 23rd. JPMorgan Chase & Co. assumed coverage on shares of Adecoagro in a research report on Monday, December 1st. They set an “underweight” rating and a $7.00 target price on the stock. Weiss Ratings raised shares of Adecoagro from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. Truist Financial set a $9.00 price target on shares of Adecoagro in a research note on Friday, January 9th. Finally, Bank of America upgraded shares of Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price objective on the stock in a report on Friday, January 9th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $8.50.

Adecoagro Trading Up 2.0%

Shares of NYSE AGRO opened at $10.19 on Monday. The firm has a 50 day moving average price of $8.76 and a two-hundred day moving average price of $8.24. The stock has a market cap of $1.02 billion, a P/E ratio of 44.28 and a beta of 0.44. Adecoagro has a 52-week low of $6.89 and a 52-week high of $11.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 2.80.

Institutional Investors Weigh In On Adecoagro

Several hedge funds and other institutional investors have recently made changes to their positions in AGRO. Orion Porfolio Solutions LLC acquired a new stake in shares of Adecoagro in the 4th quarter worth about $88,000. Quadrature Capital Ltd bought a new stake in Adecoagro during the 4th quarter worth approximately $123,000. Jeppson Wealth Management LLC purchased a new stake in shares of Adecoagro in the third quarter worth approximately $124,000. Virtu Financial LLC purchased a new stake in shares of Adecoagro in the fourth quarter worth approximately $147,000. Finally, State of Wyoming lifted its holdings in shares of Adecoagro by 44.9% in the second quarter. State of Wyoming now owns 17,203 shares of the company’s stock valued at $157,000 after purchasing an additional 5,334 shares in the last quarter. 45.25% of the stock is owned by institutional investors.

Adecoagro Company Profile

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.