AGCO Corporation (AGCO) PT Set at $68.00 by Piper Jaffray Companies

AGCO Corporation (NYSE:AGCO) has been given a $68.00 target price by equities research analysts at Piper Jaffray Companies in a note issued to investors on Wednesday. The brokerage currently has a “hold” rating on the industrial products company’s stock.

AGCO has been the subject of several other reports. Jefferies Group LLC reissued a “hold” rating and issued a $75.00 target price on shares of AGCO Corporation in a research note on Thursday, August 31st. Deutsche Bank AG reissued a “buy” rating and issued a $86.00 target price (down from $90.00) on shares of AGCO Corporation in a research note on Monday, October 9th. J P Morgan Chase & Co cut AGCO Corporation from a “neutral” rating to an “underweight” rating and set a $65.00 target price for the company. in a research note on Tuesday, October 10th. Zacks Investment Research cut AGCO Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, UBS AG set a $72.00 target price on AGCO Corporation and gave the company a “hold” rating in a research note on Saturday, October 21st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $69.07.

AGCO Corporation (NYSE:AGCO) last released its earnings results on Tuesday, October 31st. The industrial products company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.07. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.92 billion. AGCO Corporation had a return on equity of 7.50% and a net margin of 2.59%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $0.51 EPS.

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In other AGCO Corporation news, SVP Lucinda B. Smith sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $73.00, for a total value of $73,000.00. Following the completion of the transaction, the senior vice president now directly owns 38,877 shares of the company’s stock, valued at $2,838,021. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Hans Bernd Veltmaat sold 750 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $66.52, for a total value of $49,890.00. Following the completion of the transaction, the senior vice president now directly owns 68,552 shares of the company’s stock, valued at $4,560,079.04. The disclosure for this sale can be found here. 16.60% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of AGCO. BlueMountain Capital Management LLC acquired a new position in AGCO Corporation in the second quarter valued at about $165,000. PNC Financial Services Group Inc. grew its stake in AGCO Corporation by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,367 shares of the industrial products company’s stock valued at $203,000 after acquiring an additional 106 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in AGCO Corporation by 59.1% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,500 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 1,300 shares during the period. Advisor Partners LLC acquired a new position in AGCO Corporation in the second quarter valued at about $212,000. Finally, Numeric Investors LLC acquired a new position in AGCO Corporation in the second quarter valued at about $229,000. 80.80% of the stock is owned by hedge funds and other institutional investors.

About AGCO Corporation

AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.

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