Adecoagro (NYSE:AGRO) Trading Down 5.2% – Here’s Why

Adecoagro S.A. (NYSE:AGRO)’s share price fell 5.2% during mid-day trading on Friday . The company traded as low as $11.83 and last traded at $11.6920. Approximately 238,341 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 1,071,817 shares. The stock had previously closed at $12.33.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Adecoagro from $7.00 to $10.50 and gave the stock an “underweight” rating in a research report on Monday, June 15th. UBS Group cut their price objective on Adecoagro from $15.20 to $13.20 and set a “buy” rating on the stock in a research note on Thursday, August 27th. Finally, Weiss Ratings downgraded Adecoagro from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adecoagro currently has a consensus rating of “Reduce” and a consensus target price of $11.62.

Adecoagro Trading Down 4.0%

The stock has a market cap of $1.69 billion, a P/E ratio of 35.85 and a beta of -0.01. The firm’s 50 day simple moving average is $10.43 and its two-hundred day simple moving average is $11.55. The company has a quick ratio of 0.89, a current ratio of 1.73 and a debt-to-equity ratio of 0.84.

Adecoagro (NYSE:AGRO) last posted its quarterly earnings results on Saturday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.41). Adecoagro had a negative return on equity of 0.38% and a net margin of 3.03%.The business had revenue of $538.50 million during the quarter, compared to the consensus estimate of $602.01 million. As a group, equities research analysts predict that Adecoagro S.A. will post 1.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adecoagro

Several institutional investors have recently made changes to their positions in the stock. Orion Porfolio Solutions LLC acquired a new stake in shares of Adecoagro during the 4th quarter worth approximately $88,000. Van ECK Associates Corp boosted its position in Adecoagro by 57.9% during the 2nd quarter. Van ECK Associates Corp now owns 12,882 shares of the company’s stock valued at $123,000 after purchasing an additional 4,723 shares during the period. Quadrature Capital Ltd bought a new position in Adecoagro during the 4th quarter worth $123,000. Virtu Financial LLC bought a new position in Adecoagro during the 4th quarter worth $147,000. Finally, State of Wyoming increased its position in Adecoagro by 44.9% in the second quarter. State of Wyoming now owns 17,203 shares of the company’s stock worth $157,000 after buying an additional 5,334 shares during the period. 45.25% of the stock is owned by institutional investors.

Adecoagro Company Profile

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.