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 issued on Wednesday.

AGCO has been the topic of several other research reports. JPMorgan Chase & Co. dropped their target price on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. The Goldman Sachs Group dropped their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. BMO Capital Markets started coverage on AGCO in a research note on Friday, August 9th. They set a “market perform” rating and a $96.00 target price for the company. Oppenheimer dropped their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, Truist Financial boosted their price objective on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $114.40.

AGCO Stock Performance

Shares of AGCO opened at $92.03 on Wednesday. AGCO has a 1 year low of $84.35 and a 1 year high of $130.26. The stock has a market capitalization of $6.87 billion, a PE ratio of 40.70, a PEG ratio of 0.53 and a beta of 1.25. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. The stock has a 50-day simple moving average of $96.11 and a 200-day simple moving average of $97.93.

AGCO (NYSE:AGCO) last issued its quarterly 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). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the firm earned $3.97 EPS. The firm’s revenue was down 24.8% compared to the same quarter last year. On average, analysts predict that AGCO will post 7.32 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $0.29 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 1.26%. AGCO’s dividend payout ratio (DPR) is 51.33%.

Institutional Investors Weigh In On AGCO

Several hedge funds have recently made changes to their positions in AGCO. Brooklyn Investment Group purchased a new stake in AGCO during the 3rd quarter valued at approximately $29,000. LRI Investments LLC acquired a new position in shares of AGCO in the first quarter valued at approximately $30,000. Blue Trust Inc. raised its stake 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 worth $34,000 after purchasing an additional 174 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings 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 purchasing an additional 210 shares during the period. Finally, First Horizon Advisors Inc. grew its position in AGCO by 69.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after buying an additional 167 shares during the last quarter. Institutional investors and hedge funds 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.