Oppenheimer Has Lowered Expectations for AGCO (NYSE:AGCO) Stock Price

AGCO (NYSE:AGCO) had its target price cut by Oppenheimer from $131.00 to $111.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

AGCO has been the subject of several other research reports. StockNews.com downgraded shares of AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. 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 note on Wednesday, October 9th. BMO Capital Markets initiated coverage on shares of AGCO in a research report on Friday, August 9th. They set a “market perform” rating and a $96.00 price target on the stock. Robert W. Baird lowered their price objective on AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, Truist Financial upped their target price on AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, AGCO presently has an average rating of “Hold” and an average target price of $114.40.

AGCO Price Performance

Shares of NYSE:AGCO opened at $94.52 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.72 and a current ratio of 1.52. AGCO has a 52 week low of $84.35 and a 52 week high of $130.26. The firm has a market cap of $7.05 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 0.94 and a beta of 1.25. The firm’s fifty day moving average is $95.60 and its 200-day moving average is $99.53.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a return on equity of 21.17% and a net margin of 3.13%. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the firm posted $3.97 earnings per share. The firm’s quarterly revenue was down 24.8% compared to the same quarter last year. Sell-side analysts predict that AGCO will post 7.87 earnings per share for the current year.

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 1.23%. AGCO’s payout ratio is currently 20.71%.

Institutional Investors Weigh In On AGCO

Hedge funds and other institutional investors have recently modified their holdings of the company. Manchester Capital Management LLC grew its position in AGCO by 93.2% in the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 110 shares during the period. LRI Investments LLC bought a new position in shares of AGCO in the first quarter valued at $30,000. Blue Trust Inc. grew its holdings 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 buying an additional 174 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of AGCO by 132.9% during the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 210 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of AGCO by 69.0% in the 2nd 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 during the last quarter. Institutional investors 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.