Adecoagro (NYSE:AGRO) Stock Price Down 5.2% – Here’s What Happened

Adecoagro S.A. (NYSE:AGRO)’s share price traded down 5.2% on Friday . The stock traded as low as $11.83 and last traded at $11.6920. 238,341 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 1,071,817 shares. The stock had previously closed at $12.33.

Analysts Set New Price Targets

Several brokerages recently commented on AGRO. JPMorgan Chase & Co. upped their price target on shares of Adecoagro from $7.00 to $10.50 and gave the company an “underweight” rating in a research report on Monday, June 15th. Weiss Ratings cut shares of Adecoagro from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 14th. Finally, UBS Group cut their target price on shares of Adecoagro from $15.20 to $13.20 and set a “buy” rating on the stock in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $11.62.

Adecoagro Trading Down 4.6%

The company has a market cap of $1.68 billion, a PE ratio of 35.63 and a beta of -0.01. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.73. The company has a 50 day simple moving average of $10.47 and a two-hundred day simple moving average of $11.55.

Adecoagro (NYSE:AGRO) last posted its quarterly earnings results on Saturday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.41). Adecoagro had a negative return on equity of 0.38% and a net margin of 3.03%.The company had revenue of $538.50 million during the quarter, compared to analysts’ expectations of $602.01 million. Sell-side analysts forecast that Adecoagro S.A. will post 1.42 EPS for the current year.

Hedge Funds Weigh In On Adecoagro

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Adecoagro in the second quarter valued at about $1,990,000. Decker Retirement Planning Inc. purchased a new stake in shares of Adecoagro during the 1st quarter worth about $4,629,000. PenderFund Capital Management Ltd. purchased a new stake in shares of Adecoagro during the 2nd quarter worth about $2,388,000. PDT Partners LLC acquired a new stake in shares of Adecoagro during the 2nd quarter valued at about $2,465,000. Finally, Amundi grew its stake in shares of Adecoagro by 718.5% in the 2nd quarter. Amundi now owns 782,432 shares of the company’s stock valued at $7,472,000 after buying an additional 686,835 shares in the last quarter. 45.25% of the stock is currently owned by hedge funds and other institutional investors.

About Adecoagro

Adecoagro SA is an agribusiness company that produces agricultural, dairy and renewable-energy products in South America. Its operations are primarily located in Argentina, Brazil and Uruguay, where it manages farmland and related processing facilities.

The company cultivates crops such as soybeans, corn, wheat, rice, peanuts and cotton. Adecoagro also operates dairy businesses and produces sugar, ethanol and electricity from sugarcane, with cogeneration facilities that use biomass to generate renewable power.

Founded in 2002, Adecoagro has developed an integrated model that combines farming, food processing and renewable-energy production.