AGCO (AGCO) Downgraded by Zacks Investment Research

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Zacks Investment Research lowered shares of AGCO (NYSE:AGCO) from a hold rating to a sell rating in a research report released on Tuesday morning.

According to Zacks, “For 2018, AGCO expects its net sales will be $9.3 billion. The company expects adjusted earnings per share (EPS) to be around $3.70 for 2018. However, its performance might be hurt by low commodity prices. Further, demand in Western Europe to be relatively flat in 2018 compared with 2017 due to the impact of expected softening economics in the dairy and livestock sector. Rising steel prices resulting from tariffs will impact its results. Elevated expenses are likely to hurt the company's earnings. The stock has underperformed the industry, over the past year.”

A number of other brokerages also recently issued reports on AGCO. TheStreet downgraded shares of AGCO from a b rating to a c+ rating in a research report on Thursday, June 21st. ValuEngine downgraded shares of AGCO from a hold rating to a sell rating in a research report on Monday, July 16th. Deutsche Bank reissued a buy rating on shares of AGCO in a research report on Monday, September 24th. Jefferies Financial Group reaffirmed a hold rating and issued a $70.00 target price on shares of AGCO in a report on Friday, July 20th. Finally, JPMorgan Chase & Co. downgraded shares of AGCO from a neutral rating to an underweight rating and set a $55.00 target price for the company. in a report on Monday, August 13th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. AGCO currently has an average rating of Hold and a consensus target price of $71.00.

Shares of AGCO stock opened at $54.39 on Tuesday. AGCO has a 1 year low of $53.73 and a 1 year high of $75.95. The company has a quick ratio of 0.63, a current ratio of 1.42 and a debt-to-equity ratio of 0.58. The firm has a market cap of $4.46 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 0.95 and a beta of 0.70.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. AGCO had a net margin of 2.44% and a return on equity of 9.31%. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the firm posted $1.15 EPS. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, sell-side analysts forecast that AGCO will post 3.77 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of AGCO. Whittier Trust Co. purchased a new stake in AGCO in the 2nd quarter worth $124,000. Convergence Investment Partners LLC lifted its stake in AGCO by 1,586.6% in the 2nd quarter. Convergence Investment Partners LLC now owns 3,407 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 3,205 shares in the last quarter. CHICAGO TRUST Co NA purchased a new stake in AGCO in the 3rd quarter worth $244,000. FDx Advisors Inc. lifted its stake in AGCO by 21.7% in the 2nd quarter. FDx Advisors Inc. now owns 5,483 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 978 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in AGCO by 45.8% in the 2nd quarter. Toronto Dominion Bank now owns 6,349 shares of the industrial products company’s stock worth $386,000 after purchasing an additional 1,993 shares in the last quarter. 84.95% of the stock is owned by institutional investors.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.

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