Adecoagro (NYSE:AGRO) Stock Rating Upgraded by Citigroup

Citigroup upgraded shares of Adecoagro (NYSE:AGRO) from a neutral rating to a buy rating in a research report report published on Sunday, Benzinga reports. The firm currently has $8.50 price target on the stock.

AGRO has been the topic of several other reports. Zacks Investment Research cut shares of Adecoagro from a buy rating to a hold rating in a report on Thursday, February 21st. ValuEngine cut shares of Adecoagro from a hold rating to a sell rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $9.25.

Shares of Adecoagro stock opened at $7.01 on Friday. The company has a current ratio of 1.56, a quick ratio of 0.88 and a debt-to-equity ratio of 0.78. Adecoagro has a 1 year low of $6.17 and a 1 year high of $9.06. The stock has a market cap of $829.91 million, a price-to-earnings ratio of 8.99 and a beta of 0.53.

Adecoagro (NYSE:AGRO) last issued its earnings results on Tuesday, May 21st. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.06. Adecoagro had a negative net margin of 4.37% and a positive return on equity of 10.68%. The company had revenue of $159.82 million for the quarter. As a group, equities research analysts forecast that Adecoagro will post 0.31 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in AGRO. Norges Bank bought a new stake in shares of Adecoagro in the 4th quarter valued at about $9,660,000. Brandes Investment Partners LP boosted its holdings in shares of Adecoagro by 8.7% in the 1st quarter. Brandes Investment Partners LP now owns 8,466,425 shares of the company’s stock valued at $58,334,000 after buying an additional 674,516 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Adecoagro by 639.4% in the 1st quarter. Wellington Management Group LLP now owns 473,366 shares of the company’s stock valued at $3,262,000 after buying an additional 409,342 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Adecoagro by 340.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 465,074 shares of the company’s stock valued at $3,205,000 after buying an additional 359,478 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Adecoagro by 1,529.9% in the 4th quarter. Deutsche Bank AG now owns 338,568 shares of the company’s stock valued at $2,356,000 after buying an additional 317,796 shares in the last quarter. Institutional investors and hedge funds own 45.44% of the company’s stock.

About Adecoagro

Adecoagro SA, an agricultural company, engages in farming crops and other agricultural products, dairy operations, sugar, ethanol and energy production, and land transformation activities in South America. The company engages in the planting, harvesting, and sale of grains, oilseeds, and fibers including wheat, corn, soybeans, cotton, sunflowers, and other; provision of grain warehousing/conditioning, handling, and drying services to third parties; and purchase and sale of crops produced by third parties.

Featured Story: Trading Strategy

Receive News & Ratings for Adecoagro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adecoagro and related companies with MarketBeat.com's FREE daily email newsletter.