AGCO (NYSE:AGCO) Price Target Raised to $116.00

AGCO (NYSE:AGCO) had its target price raised by Barclays from $110.00 to $116.00 in a report released on Monday morning, Marketbeat.com reports. They currently have an equal weight rating on the industrial products company’s stock.

Several other brokerages have also weighed in on AGCO. Oppenheimer reduced their price objective on AGCO from $124.00 to $123.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. JPMorgan Chase & Co. increased their target price on AGCO from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Zacks Research downgraded AGCO from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Weiss Ratings restated a “hold (c-)” rating on shares of AGCO in a research report on Wednesday, October 8th. Finally, Citigroup dropped their target price on AGCO from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 23rd. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $116.33.

AGCO Stock Performance

AGCO stock opened at $107.21 on Monday. The firm has a market cap of $8.00 billion, a PE ratio of 80.01, a P/E/G ratio of 1.73 and a beta of 1.23. The company has a quick ratio of 0.67, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average of $109.45 and a 200-day moving average of $103.55. AGCO has a 12-month low of $73.79 and a 12-month high of $121.16.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.29. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the company earned $2.53 earnings per share. AGCO’s revenue was down 18.8% compared to the same quarter last year. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. As a group, sell-side analysts expect that AGCO will post 4.2 earnings per share for the current year.

AGCO announced that its Board of Directors has initiated a share buyback program on Wednesday, July 9th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 12.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $109.40, for a total value of $1,094,000.00. Following the sale, the senior vice president owned 16,189 shares in the company, valued at approximately $1,771,076.60. This trade represents a 38.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On AGCO

A number of large investors have recently added to or reduced their stakes in the company. Citizens National Bank Trust Department grew its stake in shares of AGCO by 400.0% during the first quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company’s stock valued at $28,000 after buying an additional 240 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of AGCO by 951.9% in the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 257 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of AGCO in the first quarter worth about $32,000. SJS Investment Consulting Inc. grew its stake in shares of AGCO by 3,725.0% in the third quarter. SJS Investment Consulting Inc. now owns 306 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 298 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of AGCO by 109.2% in the first quarter. Geneos Wealth Management Inc. now owns 364 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

About AGCO

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