Morgan Stanley Lowers Adecoagro (NYSE:AGRO) Price Target to $9.50

Adecoagro (NYSE:AGRO) had its price target lowered by Morgan Stanley from $10.00 to $9.50 in a report issued on Wednesday,Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other equities analysts also recently issued reports on AGRO. UBS Group lowered their price target on Adecoagro from $10.50 to $9.90 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Bank of America downgraded Adecoagro from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $12.00 to $10.80 in a research report on Friday, April 25th.

Adecoagro Stock Performance

Shares of AGRO stock opened at $9.51 on Wednesday. The company has a market capitalization of $950.93 million, a P/E ratio of 15.34 and a beta of 0.70. The business’s 50 day moving average is $9.28 and its two-hundred day moving average is $9.94. The company has a current ratio of 1.98, a quick ratio of 1.04 and a debt-to-equity ratio of 0.47. Adecoagro has a 12-month low of $8.45 and a 12-month high of $12.08.

Hedge Funds Weigh In On Adecoagro

Hedge funds have recently made changes to their positions in the company. NBC Securities Inc. raised its holdings in shares of Adecoagro by 143,775.0% during the first quarter. NBC Securities Inc. now owns 5,755 shares of the company’s stock valued at $64,000 after acquiring an additional 5,751 shares during the last quarter. OLD Mission Capital LLC acquired a new position in shares of Adecoagro during the fourth quarter valued at approximately $108,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Adecoagro during the fourth quarter valued at approximately $126,000. Lazard Asset Management LLC raised its holdings in shares of Adecoagro by 26.3% during the fourth quarter. Lazard Asset Management LLC now owns 13,406 shares of the company’s stock valued at $126,000 after acquiring an additional 2,794 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of Adecoagro during the first quarter valued at approximately $133,000. Institutional investors and hedge funds own 45.25% of the company’s stock.

Adecoagro Company Profile

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.