Adecoagro (NYSE:AGRO) Upgraded at Bank of America

Adecoagro (NYSE:AGRO) was upgraded by Bank of America from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday. The firm presently has a $9.00 price target on the stock. Bank of America‘s target price indicates a potential upside of 7.72% from the company’s current price.

AGRO has been the subject of several other research reports. JPMorgan Chase & Co. began coverage on shares of Adecoagro in a research note on Monday, December 1st. They issued an “underweight” rating and a $7.00 target price for the company. UBS Group dropped their price objective on Adecoagro from $8.50 to $8.00 and set a “neutral” rating on the stock in a report on Tuesday, December 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of Adecoagro in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Adecoagro from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Adecoagro currently has a consensus rating of “Strong Sell” and an average target price of $8.38.

Adecoagro Stock Up 5.6%

AGRO traded up $0.45 on Friday, hitting $8.36. 93,293 shares of the company were exchanged, compared to its average volume of 779,842. Adecoagro has a twelve month low of $6.89 and a twelve month high of $11.78. The firm has a 50-day moving average price of $7.90 and a two-hundred day moving average price of $8.34. The company has a market cap of $836.22 million, a price-to-earnings ratio of 36.53 and a beta of 0.43. The company has a current ratio of 2.80, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73.

Adecoagro (NYSE:AGRO) last announced its quarterly earnings results on Monday, December 1st. The company reported $0.00 earnings per share (EPS) for the quarter. Adecoagro had a return on equity of 3.09% and a net margin of 1.67%.The company had revenue of $304.21 million during the quarter. On average, equities analysts predict that Adecoagro will post 1.24 earnings per share for the current year.

Institutional Investors Weigh In On Adecoagro

Large investors have recently modified their holdings of the stock. Jeppson Wealth Management LLC acquired a new stake in shares of Adecoagro during the third quarter worth $124,000. State of Wyoming lifted its stake in Adecoagro by 44.9% during the second quarter. State of Wyoming now owns 17,203 shares of the company’s stock valued at $157,000 after buying an additional 5,334 shares in the last quarter. R Squared Ltd boosted its holdings in shares of Adecoagro by 61.1% in the third quarter. R Squared Ltd now owns 22,302 shares of the company’s stock worth $175,000 after buying an additional 8,462 shares during the period. Vise Technologies Inc. purchased a new position in shares of Adecoagro in the second quarter worth approximately $277,000. Finally, Magnetar Financial LLC raised its holdings in shares of Adecoagro by 105.9% during the second quarter. Magnetar Financial LLC now owns 31,615 shares of the company’s stock valued at $289,000 after acquiring an additional 16,260 shares during the period. 45.25% of the stock is owned by institutional investors.

Adecoagro Company Profile

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.