Citigroup Reiterates Neutral Rating for AGCO (NYSE:AGCO)

AGCO (NYSE:AGCO)‘s stock had its “neutral” rating reaffirmed by research analysts at Citigroup in a report released on Friday,Benzinga reports. They presently have a $110.00 price target on the industrial products company’s stock. Citigroup’s price objective would indicate a potential upside of 8.46% from the company’s current price.

A number of other equities analysts have also issued reports on the stock. Robert W. Baird lowered shares of AGCO from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $116.00 to $100.00 in a research report on Monday, March 3rd. Oppenheimer reduced their price objective on AGCO from $109.00 to $106.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Baird R W lowered AGCO from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. UBS Group set a $106.00 target price on AGCO in a research report on Tuesday, April 22nd. Finally, Truist Financial decreased their price target on AGCO from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, AGCO presently has an average rating of “Hold” and an average price target of $104.10.

AGCO Trading Down 0.5%

AGCO stock opened at $101.42 on Friday. The business has a fifty day moving average price of $92.04 and a 200 day moving average price of $95.35. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. AGCO has a fifty-two week low of $73.79 and a fifty-two week high of $108.76. The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of -17.82, a P/E/G ratio of 1.80 and a beta of 1.20.

AGCO (NYSE:AGCO) last announced its earnings results on Thursday, May 1st. The industrial products company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.03 by $0.38. AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the business earned $2.32 earnings per share. The business’s revenue for the quarter was down 30.0% on a year-over-year basis. Analysts expect that AGCO will post 4.2 EPS for the current fiscal year.

Insider Activity at AGCO

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total value of $26,545.00. Following the completion of the transaction, the senior vice president now owns 17,380 shares of the company’s stock, valued at $1,845,408.40. The trade was a 1.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGCO. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of AGCO during the fourth quarter worth about $3,144,000. Alberta Investment Management Corp raised its holdings in AGCO by 98.5% during the 4th quarter. Alberta Investment Management Corp now owns 49,020 shares of the industrial products company’s stock worth $4,582,000 after buying an additional 24,320 shares during the period. Barclays PLC raised its holdings in AGCO by 386.8% during the 3rd quarter. Barclays PLC now owns 249,209 shares of the industrial products company’s stock worth $24,389,000 after buying an additional 198,014 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in AGCO by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 469,669 shares of the industrial products company’s stock valued at $43,905,000 after buying an additional 15,531 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of AGCO by 4.9% in the fourth quarter. LPL Financial LLC now owns 21,812 shares of the industrial products company’s stock valued at $2,135,000 after buying an additional 1,016 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.

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.