AGCO (NYSE:AGCO) Lowered to Sell Rating by StockNews.com

StockNews.com lowered shares of AGCO (NYSE:AGCO) from a hold rating to a sell rating in a research report report published on Thursday.

AGCO has been the topic of a number of other reports. Truist Financial upped their price target on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group cut their price target on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. The Goldman Sachs Group cut their target price on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. JPMorgan Chase & Co. lowered their price target on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Robert W. Baird decreased their price objective on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $114.40.

AGCO Stock Performance

Shares of NYSE:AGCO opened at $101.21 on Thursday. AGCO has a 52 week low of $84.35 and a 52 week high of $130.26. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. The firm has a fifty day simple moving average of $97.22 and a two-hundred day simple moving average of $96.96. The stock has a market capitalization of $7.55 billion, a P/E ratio of 44.78, a PEG ratio of 0.57 and a beta of 1.25.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the previous year, the firm earned $3.97 EPS. AGCO’s revenue was down 24.8% compared to the same quarter last year. On average, analysts expect that AGCO will post 7.34 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.15%. The ex-dividend date is Friday, November 15th. AGCO’s dividend payout ratio (DPR) is presently 51.33%.

Hedge Funds Weigh In On AGCO

A number of hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group purchased a new stake in AGCO in the third quarter valued at approximately $29,000. LRI Investments LLC grew its stake in shares of AGCO by 94.3% in the second quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock valued at $33,000 after buying an additional 165 shares in the last quarter. Blue Trust Inc. grew its stake in shares of AGCO by 102.4% in the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after buying an additional 174 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of AGCO by 132.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after buying an additional 210 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in AGCO by 69.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

About AGCO

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.