AGCO (NYSE:AGCO) Cut to Sell at StockNews.com

StockNews.com downgraded shares of AGCO (NYSE:AGCO) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

A number of other analysts also recently commented on AGCO. UBS Group reduced their price objective on AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Truist Financial raised their target price on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Citigroup boosted their price target on shares of AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Robert W. Baird cut their price target on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, BMO Capital Markets initiated coverage on AGCO in a report on Friday, August 9th. They set a “market perform” rating and a $96.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, AGCO currently has a consensus rating of “Hold” and a consensus target price of $114.40.

AGCO Stock Performance

NYSE:AGCO opened at $101.21 on Thursday. The firm has a market capitalization of $7.55 billion, a PE ratio of 44.78, a PEG ratio of 0.57 and a beta of 1.25. AGCO has a 1 year low of $84.35 and a 1 year high of $130.26. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The firm’s fifty day simple moving average is $97.22 and its 200 day simple moving average is $96.96.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period last year, the business earned $3.97 EPS. On average, sell-side analysts anticipate that AGCO will post 7.34 EPS for the current year.

AGCO Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.15%. The ex-dividend date is Friday, November 15th. AGCO’s dividend payout ratio (DPR) is presently 51.33%.

Institutional Investors Weigh In On AGCO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of AGCO in the 3rd quarter valued at $29,000. LRI Investments LLC grew its position in AGCO by 94.3% during the 2nd quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 165 shares during the last quarter. Blue Trust Inc. increased its position in shares of AGCO by 102.4% during the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 174 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of AGCO by 132.9% in the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 210 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in AGCO by 69.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 167 shares during the period. 78.80% of the stock is currently owned by institutional investors.

About AGCO

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.