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

StockNews.com cut shares of AGCO (NYSE:AGCO) from a hold rating to a sell rating in a research note published on Thursday.

Several other brokerages have also recently weighed in on AGCO. Robert W. Baird lowered their price target on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. UBS Group decreased their target price on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Oppenheimer decreased their target price on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group decreased their target price on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $114.40.

AGCO Price Performance

AGCO stock opened at $101.46 on Thursday. The firm has a 50-day moving average of $96.97 and a two-hundred day moving average of $97.32. AGCO has a 1 year low of $84.35 and a 1 year high of $130.26. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 44.89, a price-to-earnings-growth ratio of 0.57 and a beta of 1.25. 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 announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the company posted $3.97 EPS. AGCO’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, research analysts forecast that AGCO will post 7.34 earnings per share for the current year.

AGCO Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.14%. AGCO’s payout ratio is 51.33%.

Institutional Trading of AGCO

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Forum Financial Management LP increased its stake in shares of AGCO by 5.5% in the second quarter. Forum Financial Management LP now owns 2,108 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 109 shares during the period. Capital Insight Partners LLC increased its stake in shares of AGCO by 2.6% in the second quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company’s stock worth $431,000 after acquiring an additional 110 shares during the period. First Horizon Advisors Inc. increased its stake in shares of AGCO by 28.6% in the third quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 117 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of AGCO by 0.7% in the third quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company’s stock worth $1,666,000 after acquiring an additional 126 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of AGCO by 50.2% in the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 139 shares during the period. Institutional investors and hedge funds 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.