StockNews.com Downgrades AGCO (NYSE:AGCO) to Sell

StockNews.com downgraded shares of AGCO (NYSE:AGCO) from a hold rating to a sell rating in a report published on Wednesday.

Other equities research analysts also recently issued reports about the company. UBS Group reduced their target price on AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Truist Financial upped their price objective on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup lifted their target price on shares of AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. BMO Capital Markets began coverage on shares of AGCO in a research report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price objective on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, AGCO has an average rating of “Hold” and an average target price of $114.40.

AGCO Stock Performance

Shares of AGCO opened at $98.43 on Wednesday. AGCO has a 12-month low of $84.35 and a 12-month high of $130.26. The stock has a market capitalization of $7.35 billion, a P/E ratio of 43.54, a P/E/G ratio of 0.55 and a beta of 1.25. The firm’s 50 day moving average is $96.49 and its 200-day moving average is $97.76. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the company posted $3.97 EPS. AGCO’s quarterly revenue was down 24.8% on a year-over-year basis. Equities research analysts anticipate that AGCO will post 7.34 EPS for the current fiscal year.

AGCO Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Friday, November 15th. AGCO’s dividend payout ratio (DPR) is currently 51.33%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in shares of AGCO during the 3rd quarter worth about $29,000. LRI Investments LLC acquired a new position in AGCO in the first quarter worth approximately $30,000. Blue Trust Inc. raised its position in 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 lifted its stake in AGCO by 132.9% in the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 210 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

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.