Bank of America Lowers AGCO (AGCO) Price Target to $64.00

AGCO (NYSE:AGCO) had its price target dropped by investment analysts at Bank of America from $70.00 to $64.00 in a note issued to investors on Wednesday. The brokerage currently has an “underperform” rating on the industrial products company’s stock. Bank of America’s target price would indicate a potential downside of 5.47% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Goldman Sachs Group raised shares of AGCO from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Thursday, November 30th. JPMorgan Chase & Co. raised shares of AGCO from an “underweight” rating to a “neutral” rating in a research note on Wednesday. Barclays assumed coverage on shares of AGCO in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $75.00 target price on the stock. UBS Group reaffirmed a “neutral” rating on shares of AGCO in a research note on Friday, October 20th. Finally, Piper Jaffray Companies set a $68.00 target price on shares of AGCO and gave the stock a “hold” rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. AGCO currently has a consensus rating of “Hold” and a consensus price target of $73.07.

Shares of AGCO (AGCO) opened at $67.70 on Wednesday. AGCO has a one year low of $58.00 and a one year high of $75.95. The company has a current ratio of 1.37, a quick ratio of 0.70 and a debt-to-equity ratio of 0.52. The stock has a market cap of $5,500.00, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 1.46 and a beta of 0.77.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). AGCO had a return on equity of 8.04% and a net margin of 2.24%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the firm earned $0.84 EPS. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. sell-side analysts forecast that AGCO will post 3.5 earnings per share for the current year.

In other news, SVP Robert B. Crain sold 7,000 shares of AGCO stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $70.72, for a total transaction of $495,040.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 16.60% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. raised its holdings in AGCO by 8.7% in the 4th quarter. Victory Capital Management Inc. now owns 2,789,037 shares of the industrial products company’s stock valued at $199,221,000 after buying an additional 223,112 shares during the period. AGF Investments Inc. raised its holdings in AGCO by 8.5% in the 3rd quarter. AGF Investments Inc. now owns 1,496,467 shares of the industrial products company’s stock valued at $110,394,000 after buying an additional 117,464 shares during the period. Schroder Investment Management Group raised its holdings in AGCO by 2.1% in the 3rd quarter. Schroder Investment Management Group now owns 1,026,797 shares of the industrial products company’s stock valued at $75,449,000 after buying an additional 20,724 shares during the period. Bank of New York Mellon Corp raised its holdings in AGCO by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 881,221 shares of the industrial products company’s stock valued at $65,007,000 after buying an additional 9,085 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in AGCO by 44.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 750,005 shares of the industrial products company’s stock valued at $55,109,000 after buying an additional 230,409 shares during the period. Hedge funds and other institutional investors own 82.67% of the company’s stock.

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AGCO Company Profile

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.

Analyst Recommendations for AGCO (NYSE:AGCO)

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