Adecoagro S.A. (NYSE:AGRO) Receives $8.50 Average PT from Brokerages

Adecoagro S.A. (NYSE:AGRO) has earned a consensus rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $8.50.

A number of equities research analysts have recently weighed in on the stock. Citigroup initiated coverage on shares of Adecoagro in a report on Monday. They issued a “buy” rating for the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Adecoagro in a research note on Wednesday, January 21st. UBS Group reduced their price objective on Adecoagro from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 2nd. Bank of America raised Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 target price for the company in a research note on Friday, January 9th. Finally, Truist Financial set a $9.00 target price on Adecoagro in a report on Friday, January 9th.

Adecoagro Price Performance

AGRO opened at $8.65 on Friday. The company has a current ratio of 2.80, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $865.28 million, a P/E ratio of 37.59 and a beta of 0.45. The stock has a 50-day moving average price of $8.27 and a 200-day moving average price of $8.21. Adecoagro has a 12-month low of $6.89 and a 12-month high of $11.78.

Adecoagro (NYSE:AGRO) last released its earnings results on Monday, December 1st. The company reported $0.00 earnings per share for the quarter. The company had revenue of $304.21 million during the quarter. Adecoagro had a return on equity of 3.09% and a net margin of 1.67%. Equities analysts predict that Adecoagro will post 1.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in Adecoagro by 48.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 86,739 shares of the company’s stock valued at $969,000 after buying an additional 28,275 shares during the period. Jane Street Group LLC raised its stake in shares of Adecoagro by 20.5% during the first quarter. Jane Street Group LLC now owns 189,055 shares of the company’s stock valued at $2,112,000 after acquiring an additional 32,169 shares during the last quarter. Sparta 24 Ltd. purchased a new stake in shares of Adecoagro during the second quarter worth about $19,197,000. Vise Technologies Inc. purchased a new stake in shares of Adecoagro during the second quarter worth about $277,000. Finally, Magnetar Financial LLC grew its stake in shares of Adecoagro by 105.9% in the second quarter. Magnetar Financial LLC now owns 31,615 shares of the company’s stock worth $289,000 after purchasing an additional 16,260 shares during the last quarter. 45.25% of the stock is owned by hedge funds and other institutional investors.

About Adecoagro

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.