AGCO (AGCO) Earns “Hold” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their hold rating on shares of AGCO (NYSE:AGCO) in a research note released on Thursday. They currently have a $79.00 price objective on the industrial products company’s stock.

Several other equities research analysts have also recently issued reports on the company. Stifel Nicolaus reiterated a hold rating and issued a $73.00 price target on shares of AGCO in a research note on Thursday, December 21st. Barclays assumed coverage on AGCO in a research note on Tuesday, December 12th. They issued an equal weight rating and a $75.00 price target for the company. Goldman Sachs Group upgraded AGCO from a neutral rating to a buy rating and set a $90.00 price target for the company in a research note on Thursday, November 30th. Piper Jaffray Companies set a $68.00 price target on AGCO and gave the company a hold rating in a research note on Wednesday, November 1st. Finally, BidaskClub cut AGCO from a buy rating to a hold rating in a research note on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $72.60.

Shares of AGCO (NYSE:AGCO) traded up $0.99 during mid-day trading on Thursday, hitting $74.11. The company had a trading volume of 837,896 shares, compared to its average volume of 613,685. The company has a current ratio of 1.51, a quick ratio of 0.70 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $5,816.65, a PE ratio of 29.18, a P/E/G ratio of 1.50 and a beta of 0.83. AGCO has a fifty-two week low of $58.00 and a fifty-two week high of $75.95.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.92 billion. AGCO had a return on equity of 7.50% and a net margin of 2.59%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 earnings per share. equities research analysts predict that AGCO will post 3.02 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.76%. The ex-dividend date was Tuesday, November 14th. AGCO’s payout ratio is presently 22.05%.

In other AGCO news, SVP Robert B. Crain sold 7,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $70.72, for a total transaction of $495,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.60% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in AGCO. FMR LLC increased its holdings in shares of AGCO by 23.6% during the second quarter. FMR LLC now owns 1,606,000 shares of the industrial products company’s stock worth $108,228,000 after buying an additional 306,505 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of AGCO by 262.8% during the third quarter. Teacher Retirement System of Texas now owns 364,230 shares of the industrial products company’s stock worth $26,869,000 after buying an additional 263,831 shares in the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in shares of AGCO during the third quarter worth $17,343,000. JPMorgan Chase & Co. increased its holdings in shares of AGCO by 44.3% during the third quarter. JPMorgan Chase & Co. now owns 750,005 shares of the industrial products company’s stock worth $55,109,000 after buying an additional 230,409 shares in the last quarter. Finally, Lodge Hill Capital LLC acquired a new position in shares of AGCO during the third quarter worth $16,967,000. Institutional investors own 82.92% of the company’s stock.

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About AGCO

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.

Analyst Recommendations for AGCO (NYSE:AGCO)

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