Adecoagro S.A. (NYSE:AGRO – Get Free Report) was up 3.7% during mid-day trading on Monday . The stock traded as high as $11.36 and last traded at $11.1350. Approximately 140,819 shares traded hands during trading, a decline of 87% from the average daily volume of 1,076,638 shares. The stock had previously closed at $10.74.
Analyst Ratings Changes
Several equities research analysts have weighed in on AGRO shares. JPMorgan Chase & Co. lifted their price target on shares of Adecoagro from $7.00 to $10.50 and gave the company 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. Finally, UBS Group reduced their target price on Adecoagro from $15.20 to $13.20 and set a “buy” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $11.62.
Check Out Our Latest Stock Report on AGRO
Adecoagro Price Performance
Adecoagro (NYSE:AGRO – Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.41). The business had revenue of $538.50 million during the quarter, compared to analyst estimates of $602.01 million. Adecoagro had a net margin of 3.03% and a negative return on equity of 0.38%. As a group, research analysts anticipate that Adecoagro S.A. will post 1.42 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its holdings in shares of Adecoagro by 48.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 86,739 shares of the company’s stock worth $969,000 after acquiring an additional 28,275 shares during the last quarter. Jane Street Group LLC boosted its stake in Adecoagro by 20.5% during the 1st quarter. Jane Street Group LLC now owns 189,055 shares of the company’s stock valued at $2,112,000 after purchasing an additional 32,169 shares during the last quarter. Invesco Ltd. increased its holdings in Adecoagro by 86.5% during the 2nd quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock worth $4,192,000 after purchasing an additional 212,685 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Adecoagro by 32.3% in the second quarter. Ameriprise Financial Inc. now owns 370,391 shares of the company’s stock worth $3,385,000 after purchasing an additional 90,518 shares during the last quarter. Finally, Engineers Gate Manager LP raised its stake in shares of Adecoagro by 115.7% in the second quarter. Engineers Gate Manager LP now owns 191,927 shares of the company’s stock worth $1,754,000 after purchasing an additional 102,955 shares during the last quarter. 45.25% of the stock is currently owned by institutional investors and hedge funds.
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.
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