JPMorgan Chase & Co. Lowers AGCO (NYSE:AGCO) Price Target to $135.00

AGCO (NYSE:AGCO) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $150.00 to $135.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 20.76% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Oppenheimer lowered their price objective on shares of AGCO from $154.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday. StockNews.com cut AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Truist Financial dropped their price objective on shares of AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $140.86.

AGCO Price Performance

NYSE AGCO traded up $1.16 on Friday, reaching $111.79. The company’s stock had a trading volume of 1,097,316 shares, compared to its average volume of 712,588. AGCO has a twelve month low of $105.77 and a twelve month high of $140.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.67 and a current ratio of 1.46. The firm’s 50 day moving average is $116.61 and its two-hundred day moving average is $116.90. The stock has a market cap of $8.34 billion, a PE ratio of 7.15, a PEG ratio of 0.64 and a beta of 1.32.

AGCO (NYSE:AGCO) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.03. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. AGCO had a return on equity of 26.96% and a net margin of 8.13%. The company’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.51 EPS. As a group, sell-side analysts predict that AGCO will post 13.06 EPS for the current year.

Hedge Funds Weigh In On AGCO

A number of hedge funds and other institutional investors have recently bought and sold shares of AGCO. Lecap Asset Management Ltd. acquired a new stake in shares of AGCO during the fourth quarter valued at about $1,082,000. Vontobel Holding Ltd. lifted its position in shares of AGCO by 6.5% during the 4th quarter. Vontobel Holding Ltd. now owns 106,351 shares of the industrial products company’s stock valued at $12,912,000 after acquiring an additional 6,494 shares during the period. Nordea Investment Management AB boosted its position in shares of AGCO by 1.7% during the 4th quarter. Nordea Investment Management AB now owns 61,828 shares of the industrial products company’s stock worth $7,492,000 after purchasing an additional 1,036 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of AGCO by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,755,557 shares of the industrial products company’s stock valued at $799,047,000 after buying an additional 32,583 shares during the period. Finally, Invesco Ltd. increased its position in AGCO by 53.1% in the 3rd quarter. Invesco Ltd. now owns 374,810 shares of the industrial products company’s stock valued at $44,333,000 after buying an additional 130,051 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.