AGCO (NYSE:AGCO) Price Target Raised to $136.00

AGCO (NYSE:AGCO) had its price objective upped by JPMorgan Chase & Co. from $135.00 to $136.00 in a research report sent to investors on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the industrial products company’s stock.

Several other brokerages have also commented on AGCO. UBS Group restated a “neutral” rating and set a $119.00 price target (up previously from $100.00) on shares of AGCO in a research note on Friday, August 8th. Truist Financial cut their price target on AGCO from $143.00 to $142.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Weiss Ratings restated a “hold (c-)” rating on shares of AGCO in a research note on Wednesday, October 8th. Wall Street Zen raised AGCO from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Finally, Zacks Research downgraded AGCO from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $116.38.

AGCO Stock Performance

Shares of AGCO stock opened at $108.84 on Tuesday. The firm has a market cap of $8.12 billion, a P/E ratio of 81.22, a P/E/G ratio of 1.70 and a beta of 1.23. The company has a current ratio of 1.48, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66. AGCO has a 12 month low of $73.79 and a 12 month high of $121.16. The stock’s fifty day moving average price is $109.75 and its 200-day moving average price is $102.97.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.06 by $0.29. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.52 billion. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The business’s revenue for the quarter was down 18.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.53 earnings per share. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. On average, equities research analysts expect that AGCO will post 4.2 earnings per share for the current fiscal year.

AGCO announced that its board has approved a share buyback program on Wednesday, July 9th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to buy up to 12.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at AGCO

In related news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $109.40, for a total transaction of $1,094,000.00. Following the completion of the sale, the senior vice president owned 16,189 shares of the company’s stock, valued at $1,771,076.60. The trade was a 38.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On AGCO

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of AGCO by 951.9% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 257 shares during the period. Citizens National Bank Trust Department lifted its holdings in shares of AGCO by 400.0% during the first quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 240 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of AGCO during the first quarter worth about $32,000. Geneos Wealth Management Inc. lifted its holdings in shares of AGCO by 109.2% during the first quarter. Geneos Wealth Management Inc. now owns 364 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 190 shares during the period. Finally, Quarry LP acquired a new stake in shares of AGCO during the first quarter worth about $37,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

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.