Agco Corp. (NYSE:AGCO) was upgraded by stock analysts at Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a research note issued on Monday, The Fly reports.
Several other brokerages have also recently issued reports on AGCO. Zacks Investment Research raised shares of Agco Corp. from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Tuesday, June 21st. Citigroup Inc. dropped their price objective on shares of Agco Corp. from $55.00 to $53.00 and set a “neutral” rating on the stock in a research note on Friday, July 15th. Piper Jaffray Cos. dropped their price objective on shares of Agco Corp. from $47.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, August 25th. Credit Suisse Group AG reissued a “hold” rating and issued a $53.00 price objective on shares of Agco Corp. in a research note on Tuesday, August 30th. Finally, Jefferies Group reissued a “buy” rating on shares of Agco Corp. in a research note on Friday, August 5th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $48.75.
Agco Corp. (NYSE:AGCO) opened at 50.20 on Monday. Agco Corp. has a 1-year low of $42.40 and a 1-year high of $56.00. The stock has a market capitalization of $4.07 billion, a P/E ratio of 22.56 and a beta of 1.32. The stock has a 50 day moving average of $48.17 and a 200 day moving average of $49.74.
Agco Corp. (NYSE:AGCO) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.10. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Agco Corp. had a net margin of 2.58% and a return on equity of 7.72%. Agco Corp.’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. On average, analysts expect that Agco Corp. will post $2.31 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.52 dividend on an annualized basis and a yield of 1.04%. Agco Corp.’s payout ratio is 23.64%.
A number of large investors have recently modified their holdings of the stock. Sii Investments Inc. WI acquired a new stake in shares of Agco Corp. during the second quarter worth approximately $224,000. Seven Eight Capital LLC acquired a new stake in shares of Agco Corp. during the first quarter worth approximately $226,000. Huntington Asset Advisors Inc. acquired a new stake in shares of Agco Corp. during the first quarter worth approximately $231,000. Gratus Capital LLC acquired a new stake in shares of Agco Corp. during the second quarter worth approximately $240,000. Finally, Boston Advisors LLC acquired a new stake in shares of Agco Corp. during the second quarter worth approximately $241,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.
Agco Corp. Company Profile
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems.
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