Adecoagro (NYSE:AGRO) Shares Cross Above 200-Day Moving Average of $6.65

Adecoagro SA (NYSE:AGRO) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.65 and traded as high as $6.28. Adecoagro shares last traded at $6.24, with a volume of 64,353 shares changing hands.

A number of analysts have recently issued reports on AGRO shares. ValuEngine downgraded Adecoagro from a “hold” rating to a “sell” rating in a research report on Tuesday, September 10th. Citigroup upgraded Adecoagro from a “neutral” rating to a “buy” rating and set a $8.50 price target for the company in a research report on Sunday, June 9th. Finally, Zacks Investment Research downgraded Adecoagro from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Adecoagro has a consensus rating of “Hold” and a consensus target price of $8.75.

The stock has a market cap of $728.50 million, a P/E ratio of 7.96 and a beta of 0.67. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.78 and a current ratio of 1.56. The stock has a 50-day moving average price of $6.04 and a 200-day moving average price of $6.65.

Adecoagro (NYSE:AGRO) last issued its quarterly earnings results on Thursday, August 15th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.04). The business had revenue of $227.79 million for the quarter. Adecoagro had a net margin of 2.53% and a return on equity of 1.32%. Sell-side analysts forecast that Adecoagro SA will post 0.34 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. lifted its position in Adecoagro by 212.8% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 370,490 shares of the company’s stock worth $4,994,000 after buying an additional 252,035 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in Adecoagro by 180.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 26,034 shares of the company’s stock worth $186,000 after buying an additional 16,760 shares during the last quarter. Vanguard Group Inc. lifted its position in Adecoagro by 170.0% in the 2nd quarter. Vanguard Group Inc. now owns 86,707 shares of the company’s stock worth $619,000 after buying an additional 54,593 shares during the last quarter. A.R.T. Advisors LLC lifted its position in Adecoagro by 199.6% in the 2nd quarter. A.R.T. Advisors LLC now owns 36,023 shares of the company’s stock worth $257,000 after buying an additional 23,998 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Adecoagro by 301.2% in the 2nd quarter. BlackRock Inc. now owns 2,403,008 shares of the company’s stock worth $17,158,000 after buying an additional 1,804,026 shares during the last quarter. Institutional investors own 45.94% of the company’s stock.

About Adecoagro (NYSE:AGRO)

Adecoagro SA, an agricultural company, engages in farming crops and other agricultural products, dairy operations, sugar, ethanol and energy production, and land transformation activities in South America. The company engages in the planting, harvesting, and sale of grains, oilseeds, and fibers including wheat, corn, soybeans, cotton, sunflowers, and other; provision of grain warehousing/conditioning, handling, and drying services to third parties; and purchase and sale of crops produced by third parties.

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