AGCO (NYSE:AGCO) Cut to Sell at StockNews.com

StockNews.com lowered shares of AGCO (NYSE:AGCO) from a hold rating to a sell rating in a research note released on Wednesday morning.

Several other research analysts have also recently issued reports on AGCO. Morgan Stanley initiated coverage on shares of AGCO in a report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price objective for the company. Truist Financial increased their price target on AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group dropped their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Oppenheimer decreased their target price on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Citigroup boosted their price target on shares of AGCO from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, AGCO currently has an average rating of “Hold” and a consensus target price of $113.18.

AGCO Price Performance

Shares of NYSE:AGCO opened at $97.04 on Wednesday. The firm’s 50 day moving average is $97.55 and its two-hundred day moving average is $96.42. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $7.24 billion, a P/E ratio of 42.94, a PEG ratio of 0.56 and a beta of 1.24. AGCO has a 52 week low of $84.35 and a 52 week high of $130.26.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. AGCO’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.97 earnings per share. Analysts anticipate that AGCO will post 7.36 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.20%. AGCO’s payout ratio is presently 51.33%.

Institutional Trading of AGCO

Large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in shares of AGCO in the third quarter valued at about $52,000. Neo Ivy Capital Management acquired a new stake in AGCO in the 3rd quarter valued at about $1,676,000. Coldstream Capital Management Inc. increased its position in AGCO by 9.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,329 shares of the industrial products company’s stock valued at $324,000 after acquiring an additional 284 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of AGCO by 7.2% in the third quarter. Geode Capital Management LLC now owns 1,205,227 shares of the industrial products company’s stock worth $121,121,000 after acquiring an additional 80,516 shares during the last quarter. Finally, M&T Bank Corp lifted its position in shares of AGCO by 133.0% during the third quarter. M&T Bank Corp now owns 84,441 shares of the industrial products company’s stock worth $8,263,000 after purchasing an additional 48,198 shares in the last quarter. 78.80% of the stock is 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.