Adecoagro (NYSE:AGRO) Upgraded to Buy by StockNews.com

Adecoagro (NYSE:AGRO) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Adecoagro Price Performance

NYSE AGRO traded up $0.13 on Monday, reaching $11.25. 809,391 shares of the stock traded hands, compared to its average volume of 505,980. The firm’s fifty day simple moving average is $10.73 and its 200 day simple moving average is $10.70. The company has a quick ratio of 1.20, a current ratio of 2.14 and a debt-to-equity ratio of 0.55. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 5.33 and a beta of 1.12. Adecoagro has a 12 month low of $8.33 and a 12 month high of $12.51.

Adecoagro (NYSE:AGRO) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.15) EPS for the quarter. Adecoagro had a net margin of 17.42% and a return on equity of 10.86%. The company had revenue of $263.95 million for the quarter. As a group, research analysts predict that Adecoagro will post 1.69 EPS for the current fiscal year.

Institutional Trading of Adecoagro

A number of hedge funds have recently modified their holdings of AGRO. Raymond James & Associates acquired a new position in shares of Adecoagro in the third quarter worth $525,000. Bank of New York Mellon Corp increased its stake in shares of Adecoagro by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 2,943,599 shares of the company’s stock worth $34,411,000 after acquiring an additional 25,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Adecoagro by 0.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 275,063 shares of the company’s stock worth $3,215,000 after acquiring an additional 1,280 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Adecoagro in the third quarter worth $54,000. Finally, abrdn plc increased its stake in shares of Adecoagro by 15.6% in the third quarter. abrdn plc now owns 1,005,939 shares of the company’s stock worth $11,759,000 after acquiring an additional 135,990 shares during the last quarter. Hedge funds and other institutional investors 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.