Adecoagro S.A. (NYSE:AGRO – Get Free Report) shares traded up 8.5% on Monday. The stock traded as high as $10.98 and last traded at $10.96. Approximately 352,689 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 1,034,245 shares. The stock had previously closed at $10.10.
Analysts Set New Price Targets
Several brokerages have commented on AGRO. Weiss Ratings lowered Adecoagro from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 14th. Santander began coverage on Adecoagro in a research note on Monday, September 14th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. boosted their target price on Adecoagro from $7.00 to $10.50 and gave the stock an “underweight” rating in a report on Monday, June 15th. Finally, UBS Group dropped their target price on shares of Adecoagro from $15.20 to $13.20 and set a “buy” rating for the company in a research report on Thursday, August 27th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $11.62.
Read Our Latest Stock Report on Adecoagro
Adecoagro Trading Up 8.5%
Adecoagro (NYSE:AGRO – Get Free Report) last released its quarterly earnings data on Saturday, August 8th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.41). Adecoagro had a net margin of 3.03% and a negative return on equity of 0.38%. The company had revenue of $538.50 million during the quarter, compared to analysts’ expectations of $602.01 million. On average, analysts predict that Adecoagro S.A. will post 1.42 earnings per share for the current year.
Hedge Funds Weigh In On Adecoagro
A number of institutional investors and hedge funds have recently bought and sold shares of AGRO. Van ECK Associates Corp raised its stake in shares of Adecoagro by 57.9% during the second quarter. Van ECK Associates Corp now owns 12,882 shares of the company’s stock valued at $123,000 after purchasing an additional 4,723 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Adecoagro in the second quarter valued at $162,000. HighTower Advisors LLC acquired a new stake in Adecoagro during the 2nd quarter valued at $168,000. Bank of America Corp DE acquired a new stake in Adecoagro during the 2nd quarter valued at $187,000. Finally, Savant Capital LLC acquired a new stake in Adecoagro during the 4th quarter valued at $159,000. Hedge funds and other institutional investors own 45.25% of the company’s stock.
About Adecoagro
Adecoagro SA is an agribusiness company focused on the production, processing and marketing of agricultural and renewable energy products in South America. The company operates primarily in Argentina, Brazil and Uruguay, where it manages farmland and related processing facilities.
Its activities include the cultivation of grains, oilseeds, rice and other crops, as well as dairy farming. Adecoagro also produces sugar and ethanol from sugarcane and generates renewable energy, including electricity associated with its agricultural and industrial operations.
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