Citigroup Forecasts Strong Price Appreciation for AGCO (NYSE:AGCO) Stock

AGCO (NYSE:AGCO) had its price objective lifted by investment analysts at Citigroup from $95.00 to $98.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price objective would suggest a potential upside of 3.28% from the company’s previous close.

A number of other research firms have also commented on AGCO. Truist Financial increased 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. Morgan Stanley assumed coverage on AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target on the stock. Baird R W lowered AGCO from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. increased their price target on AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 15th. Finally, Robert W. Baird lowered AGCO from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $116.00 to $100.00 in a research report on Monday, March 3rd. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, AGCO currently has a consensus rating of “Hold” and an average price target of $104.60.

AGCO Trading Down 0.4 %

AGCO stock opened at $94.89 on Monday. AGCO has a 1-year low of $84.35 and a 1-year high of $125.76. The firm has a market cap of $7.08 billion, a P/E ratio of -16.68, a P/E/G ratio of 1.80 and a beta of 1.24. The business’s 50 day moving average is $98.60 and its 200-day moving average is $96.64. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AGCO. Atria Investments Inc acquired a new position in shares of AGCO in the 3rd quarter valued at $372,000. Oppenheimer Asset Management Inc. lifted its stake in shares of AGCO by 8.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 15,191 shares of the industrial products company’s stock valued at $1,487,000 after purchasing an additional 1,229 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of AGCO by 0.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company’s stock valued at $1,666,000 after purchasing an additional 126 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of AGCO by 0.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 109,493 shares of the industrial products company’s stock valued at $10,715,000 after purchasing an additional 532 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in shares of AGCO by 28.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 117 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.