AGCO (NYSE:AGCO) Price Target Raised to $98.00 at Citigroup

AGCO (NYSE:AGCO) had its price objective boosted by analysts at Citigroup from $95.00 to $98.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price objective indicates a potential upside of 3.08% from the company’s current price.

A number of other brokerages also recently issued reports on AGCO. Robert W. Baird downgraded AGCO from an “outperform” rating to a “neutral” rating and cut their price target for the company from $116.00 to $100.00 in a report on Monday, March 3rd. Morgan Stanley assumed coverage on shares of AGCO in a report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 target price for the company. Baird R W downgraded shares of AGCO from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. increased their target price on shares of AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, January 15th. Finally, Truist Financial upped their price target on AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, AGCO has a consensus rating of “Hold” and a consensus target price of $104.60.

AGCO Stock Up 1.3 %

Shares of AGCO stock traded up $1.23 during mid-day trading on Monday, hitting $95.07. The stock had a trading volume of 390,557 shares, compared to its average volume of 815,075. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. The firm’s 50-day moving average is $98.45 and its two-hundred day moving average is $96.58. The firm has a market capitalization of $7.09 billion, a P/E ratio of -16.68, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24. AGCO has a 12-month low of $84.35 and a 12-month high of $125.76.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. On average, analysts predict that AGCO will post 4.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AGCO. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in shares of AGCO during the 4th quarter worth $3,144,000. Gateway Investment Advisers LLC acquired a new position in shares of AGCO during the 4th quarter worth approximately $311,000. Olstein Capital Management L.P. lifted its stake in AGCO by 20.8% in the 4th quarter. Olstein Capital Management L.P. now owns 14,500 shares of the industrial products company’s stock valued at $1,355,000 after buying an additional 2,500 shares in the last quarter. M&T Bank Corp grew its holdings in AGCO by 133.0% during the 3rd quarter. M&T Bank Corp now owns 84,441 shares of the industrial products company’s stock valued at $8,263,000 after buying an additional 48,198 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its position in AGCO by 2.0% during the third quarter. Royal London Asset Management Ltd. now owns 623,585 shares of the industrial products company’s stock worth $61,024,000 after buying an additional 12,328 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.