AGCO (NYSE:AGCO) Given New $116.00 Price Target at Truist Financial

AGCO (NYSE:AGCO) had its price target hoisted by stock analysts at Truist Financial from $110.00 to $116.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective points to a potential upside of 23.23% from the company’s current price.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group cut their price objective on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Oppenheimer cut their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Citigroup raised their price objective on AGCO from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Morgan Stanley assumed coverage on AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $112.18.

AGCO Trading Down 2.8 %

Shares of NYSE:AGCO opened at $94.13 on Thursday. AGCO has a 52 week low of $84.35 and a 52 week high of $130.26. The company’s 50 day moving average is $97.51 and its two-hundred day moving average is $96.14. The company has a market cap of $7.03 billion, a PE ratio of 41.65, a P/E/G ratio of 0.56 and a beta of 1.24. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.97 earnings per share. Equities analysts predict that AGCO will post 7.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Forum Financial Management LP grew its holdings in AGCO by 5.5% during the second quarter. Forum Financial Management LP now owns 2,108 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 109 shares during the period. Capital Insight Partners LLC grew its stake in shares of AGCO by 2.6% during the 2nd quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company’s stock worth $431,000 after purchasing an additional 110 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of AGCO by 28.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 117 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of AGCO by 0.7% in the third quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company’s stock valued at $1,666,000 after purchasing an additional 126 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in AGCO by 50.2% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after buying an additional 139 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

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.