Adecoagro (NYSE:AGRO) Given New $10.50 Price Target at JPMorgan Chase & Co.

Adecoagro (NYSE:AGRO) had its price objective upped by JPMorgan Chase & Co. from $7.00 to $10.50 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 6.08% from the stock’s previous close.

A number of other analysts also recently issued reports on AGRO. Citigroup downgraded shares of Adecoagro from a “buy” rating to a “neutral” rating and raised their price target for the stock from $13.00 to $15.00 in a report on Tuesday, April 14th. Wall Street Zen upgraded shares of Adecoagro from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Zacks Research downgraded shares of Adecoagro from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. UBS Group upgraded shares of Adecoagro from a “neutral” rating to a “buy” rating and raised their price target for the stock from $8.00 to $16.20 in a report on Monday, March 30th. Finally, Weiss Ratings upgraded shares of Adecoagro from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.12.

Adecoagro Price Performance

AGRO traded down $0.47 during trading on Monday, reaching $11.18. The company’s stock had a trading volume of 381,743 shares, compared to its average volume of 1,185,703. The company has a quick ratio of 0.86, a current ratio of 1.74 and a debt-to-equity ratio of 0.80. The firm has a fifty day simple moving average of $13.19 and a two-hundred day simple moving average of $10.67. Adecoagro has a 1 year low of $6.89 and a 1 year high of $15.89. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 559.28 and a beta of -0.08.

Adecoagro (NYSE:AGRO) last released its earnings results on Monday, May 11th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.49). The business had revenue of $419.45 million during the quarter, compared to analysts’ expectations of $408.94 million. Adecoagro had a negative return on equity of 2.38% and a net margin of 0.95%. As a group, analysts anticipate that Adecoagro will post 1.45 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Mariano Bosch sold 100,000 shares of Adecoagro stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $14.50, for a total value of $1,450,000.00. Following the completion of the sale, the chief executive officer owned 897,249 shares in the company, valued at approximately $13,010,110.50. This trade represents a 10.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 106,815 shares of company stock valued at $1,540,799.

Institutional Trading of Adecoagro

Several institutional investors have recently added to or reduced their stakes in AGRO. Cantor Fitzgerald L. P. acquired a new position in shares of Adecoagro in the third quarter worth $1,082,000. Quent Capital LLC acquired a new position in shares of Adecoagro in the fourth quarter worth $595,000. Tudor Investment Corp ET AL acquired a new position in shares of Adecoagro in the third quarter worth $295,000. Stonebridge Financial Group LLC MO acquired a new position in shares of Adecoagro in the fourth quarter worth $592,000. Finally, Comprehensive Money Management Services LLC grew its stake in shares of Adecoagro by 5.0% in the first quarter. Comprehensive Money Management Services LLC now owns 73,733 shares of the company’s stock worth $1,107,000 after acquiring an additional 3,495 shares in the last quarter. Institutional investors and hedge funds own 45.25% of the company’s stock.

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.