JPMorgan Chase & Co. Downgrades AGCO (NYSE:AGCO) to Neutral


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AGCO (NYSE:AGCO) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Tuesday, AnalystRatings.net reports. They currently have a $115.00 price objective on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 0.29% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of AGCO from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $70.00 to $95.00 in a report on Friday, October 16th. ValuEngine lowered shares of AGCO from a “hold” rating to a “sell” rating in a research report on Tuesday, December 1st. Deutsche Bank Aktiengesellschaft raised shares of AGCO from a “hold” rating to a “buy” rating in a research note on Monday, December 14th. Sanford C. Bernstein started coverage on shares of AGCO in a research note on Tuesday, September 22nd. They issued an “outperform” rating and a $98.00 price target on the stock. Finally, BidaskClub raised shares of AGCO from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $92.06.

Shares of AGCO stock opened at $114.67 on Tuesday. AGCO has a 1 year low of $35.33 and a 1 year high of $116.19. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.38 and a quick ratio of 0.66. The firm has a fifty day moving average price of $99.60 and a 200 day moving average price of $80.15. The stock has a market cap of $8.59 billion, a PE ratio of 42.47, a price-to-earnings-growth ratio of 1.37 and a beta of 1.22.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, November 3rd. The industrial products company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $1.07. AGCO had a net margin of 2.27% and a return on equity of 13.58%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. As a group, equities analysts expect that AGCO will post 5.15 EPS for the current year.

In other news, Director P George Benson sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 25th. The shares were sold at an average price of $93.03, for a total value of $186,060.00. Following the completion of the transaction, the director now owns 16,271 shares in the company, valued at approximately $1,513,691.13. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Wolfgang Deml sold 2,500 shares of the company’s stock in a transaction on Monday, November 23rd. The shares were sold at an average price of $94.28, for a total transaction of $235,700.00. Following the completion of the transaction, the director now owns 13,291 shares of the company’s stock, valued at approximately $1,253,075.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 244,968 shares of company stock worth $22,770,653. Insiders own 17.80% of the company’s stock.

Several institutional investors have recently modified their holdings of AGCO. Point72 Hong Kong Ltd boosted its holdings in shares of AGCO by 9.1% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,454 shares of the industrial products company’s stock valued at $136,000 after buying an additional 205 shares in the last quarter. Cigna Investments Inc. New acquired a new stake in AGCO during the 2nd quarter worth $595,000. Jane Street Group LLC acquired a new stake in AGCO during the 2nd quarter worth $1,730,000. Engineers Gate Manager LP lifted its stake in shares of AGCO by 51.4% in the 2nd quarter. Engineers Gate Manager LP now owns 30,638 shares of the industrial products company’s stock worth $1,699,000 after acquiring an additional 10,400 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in shares of AGCO by 40.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,276,024 shares of the industrial products company’s stock worth $70,768,000 after acquiring an additional 366,732 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers high 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.

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Analyst Recommendations for AGCO (NYSE:AGCO)

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