AGCO (NYSE:AGCO) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of AGCO (NYSE:AGCO) from a hold rating to a sell rating in a research note published on Thursday morning.

A number of other equities research analysts have also weighed in on AGCO. Oppenheimer decreased their price objective on shares of AGCO from $133.00 to $132.00 and set an outperform rating for the company in a report on Monday, July 22nd. Robert W. Baird decreased their price target on shares of AGCO from $139.00 to $129.00 and set an outperform rating for the company in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on AGCO from $130.00 to $115.00 and set an overweight rating on the stock in a research note on Wednesday. Raymond James initiated coverage on AGCO in a research report on Friday, June 28th. They set a market perform rating for the company. Finally, Barclays dropped their price target on AGCO from $145.00 to $110.00 and set an equal weight rating on the stock in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $121.20.

AGCO Price Performance

AGCO stock traded down $2.35 during trading on Thursday, hitting $89.00. 298,583 shares of the company’s stock traded hands, compared to its average volume of 762,215. The business has a fifty day simple moving average of $100.58 and a 200 day simple moving average of $110.75. AGCO has a 52 week low of $88.55 and a 52 week high of $132.94. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.09 and a current ratio of 1.52. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 6.18, a P/E/G ratio of 0.88 and a beta of 1.27.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.48 billion. AGCO had a return on equity of 21.17% and a net margin of 3.13%. AGCO’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.29 EPS. As a group, research analysts expect that AGCO will post 8 EPS for the current fiscal year.

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.30%. The ex-dividend date is Thursday, August 15th. AGCO’s payout ratio is 7.85%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its holdings in AGCO by 3,115.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,192,533 shares of the industrial products company’s stock valued at $144,785,000 after buying an additional 1,155,440 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of AGCO by 11.6% in the 1st quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock valued at $930,660,000 after purchasing an additional 784,617 shares in the last quarter. Norges Bank purchased a new position in shares of AGCO in the 4th quarter valued at about $83,733,000. Ilex Capital Partners UK LLP purchased a new position in AGCO during the first quarter worth approximately $23,569,000. Finally, Principal Financial Group Inc. boosted its position in AGCO by 72.8% during the fourth quarter. Principal Financial Group Inc. now owns 428,976 shares of the industrial products company’s stock worth $52,082,000 after purchasing an additional 180,694 shares in the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

AGCO Company Profile

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.