Raymond James Initiates Coverage on AGCO (NYSE:AGCO)

Equities researchers at Raymond James initiated coverage on shares of AGCO (NYSE:AGCO) in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The brokerage set a “market perform” rating on the industrial products company’s stock.

A number of other analysts also recently commented on AGCO. Citigroup initiated coverage on shares of AGCO in a report on Wednesday. They issued a “neutral” rating and a $108.00 target price on the stock. Oppenheimer dropped their price target on AGCO from $145.00 to $133.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. JPMorgan Chase & Co. reduced their price objective on AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Finally, Truist Financial cut their target price on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.00.

AGCO Stock Down 1.0 %

Shares of AGCO stock opened at $97.88 on Friday. AGCO has a 1 year low of $96.60 and a 1 year high of $140.46. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. The business’s fifty day moving average is $108.42 and its 200-day moving average is $114.51. The stock has a market cap of $7.30 billion, a PE ratio of 6.62, a price-to-earnings-growth ratio of 0.61 and a beta of 1.31.

AGCO (NYSE:AGCO) last announced its earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the business posted $3.51 earnings per share. The company’s quarterly revenue was down 12.1% on a year-over-year basis. Equities analysts expect that AGCO will post 12.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Westwood Holdings Group Inc. grew its stake in AGCO by 18.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 180,463 shares of the industrial products company’s stock valued at $22,201,000 after acquiring an additional 27,958 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of AGCO by 1.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,012,681 shares of the industrial products company’s stock worth $122,517,000 after purchasing an additional 17,690 shares during the period. Aurora Investment Counsel grew its position in AGCO by 5.8% during the first quarter. Aurora Investment Counsel now owns 11,225 shares of the industrial products company’s stock valued at $1,381,000 after purchasing an additional 617 shares in the last quarter. Clean Yield Group acquired a new position in AGCO in the 1st quarter valued at approximately $1,849,000. Finally, Cetera Advisors LLC acquired a new position in AGCO in the 1st quarter valued at approximately $247,000. 78.80% of the stock is owned by institutional investors and hedge funds.

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.