Adecoagro (NYSE:AGRO) Trading Up 7.4% After Analyst Upgrade

Adecoagro S.A. (NYSE:AGRO) rose 7.4% on Monday after UBS Group upgraded the stock from a neutral rating to a buy rating. UBS Group now has a $16.20 price target on the stock, up from their previous price target of $8.00. Adecoagro traded as high as $15.41 and last traded at $15.09. Approximately 730,442 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 1,146,247 shares. The stock had previously closed at $14.05.

A number of other brokerages have also commented on AGRO. Bank of America raised Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price target for the company in a research note on Friday, January 9th. JPMorgan Chase & Co. began coverage on shares of Adecoagro in a report on Monday, December 1st. They issued an “underweight” rating and a $7.00 price objective for the company. Zacks Research cut shares of Adecoagro from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Truist Financial set a $9.00 target price on shares of Adecoagro in a research note on Friday, January 9th. Finally, Citigroup assumed coverage on shares of Adecoagro in a research note on Monday, February 16th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Adecoagro currently has an average rating of “Hold” and a consensus target price of $10.84.

Insiders Place Their Bets

In other Adecoagro news, CEO Mariano Bosch sold 100,000 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $14.50, for a total value of $1,450,000.00. Following the completion of the transaction, the chief executive officer owned 897,249 shares in the company, valued at approximately $13,010,110.50. This represents a 10.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted 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 acquiring an additional 28,275 shares during the period. Jane Street Group LLC grew its holdings in Adecoagro by 20.5% in the first quarter. Jane Street Group LLC now owns 189,055 shares of the company’s stock worth $2,112,000 after purchasing an additional 32,169 shares during the period. Quantbot Technologies LP increased its stake in shares of Adecoagro by 113.8% during the second quarter. Quantbot Technologies LP now owns 57,490 shares of the company’s stock valued at $525,000 after purchasing an additional 30,602 shares in the last quarter. Invesco Ltd. increased its stake in shares of Adecoagro by 86.5% during the second quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock valued at $4,192,000 after purchasing an additional 212,685 shares in the last quarter. Finally, Pale Fire Capital SE purchased a new position in shares of Adecoagro during the second quarter valued at approximately $774,000. 45.25% of the stock is currently owned by institutional investors.

Adecoagro Stock Up 6.6%

The company has a quick ratio of 0.82, a current ratio of 1.38 and a debt-to-equity ratio of 0.77. The company’s fifty day moving average price is $10.00 and its 200-day moving average price is $8.66. The stock has a market capitalization of $1.50 billion, a PE ratio of -187.91, a price-to-earnings-growth ratio of 0.29 and a beta of 0.44.

Adecoagro (NYSE:AGRO) last posted its quarterly earnings results on Saturday, February 14th. The company reported ($0.15) earnings per share for the quarter. Adecoagro had a negative return on equity of 1.17% and a negative net margin of 0.55%.The company had revenue of $432.91 million during the quarter. Analysts forecast that Adecoagro S.A. will post 1.24 earnings per share for the current year.

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.