Adecoagro (NYSE:AGRO) Stock Price Down 3.5% – Here’s What Happened

Adecoagro S.A. (NYSE:AGRO) fell 3.5% on Tuesday . The stock traded as low as $10.82 and last traded at $10.8660. 163,393 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,088,024 shares. The stock had previously closed at $11.26.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AGRO. JPMorgan Chase & Co. boosted their price objective on shares of Adecoagro from $7.00 to $10.50 and gave the stock an “underweight” rating in a research note on Monday, June 15th. Weiss Ratings cut shares of Adecoagro from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $12.12.

Adecoagro Trading Up 0.6%

The firm’s fifty day simple moving average is $9.91 and its 200 day simple moving average is $11.32. The stock has a market capitalization of $1.58 billion, a P/E ratio of 33.64 and a beta of -0.04. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.73.

Adecoagro (NYSE:AGRO) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.41). The firm had revenue of $538.50 million for the quarter, compared to the consensus estimate of $602.01 million. Adecoagro had a negative return on equity of 0.38% and a net margin of 3.03%. As a group, equities research analysts forecast that Adecoagro S.A. will post 1.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Adecoagro

A number of large investors have recently modified their holdings of the business. Orion Porfolio Solutions LLC acquired a new position in shares of Adecoagro during the 4th quarter worth $88,000. Van ECK Associates Corp boosted its stake in Adecoagro by 57.9% in the second quarter. Van ECK Associates Corp now owns 12,882 shares of the company’s stock valued at $123,000 after buying an additional 4,723 shares in the last quarter. Quadrature Capital Ltd bought a new position in Adecoagro in the fourth quarter valued at about $123,000. Virtu Financial LLC bought a new position in Adecoagro in the fourth quarter valued at about $147,000. Finally, State of Wyoming raised its stake in Adecoagro by 44.9% during the second quarter. State of Wyoming now owns 17,203 shares of the company’s stock worth $157,000 after acquiring an additional 5,334 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.