UBS Group set a $63.00 price objective on AGCO (NYSE:AGCO) in a research report released on Wednesday morning, www.stocktargetadvisor.com reports. The brokerage currently has a hold rating on the industrial products company’s stock.
AGCO has been the subject of a number of other reports. TheStreet raised AGCO from a c+ rating to a b- rating in a research report on Tuesday, July 31st. Deutsche Bank set a $79.00 target price on AGCO and gave the stock a buy rating in a research note on Wednesday, September 5th. ValuEngine cut AGCO from a hold rating to a sell rating in a research note on Tuesday, October 23rd. Credit Suisse Group decreased their target price on AGCO from $68.00 to $63.00 and set a neutral rating for the company in a research note on Wednesday, October 31st. Finally, Morgan Stanley decreased their target price on AGCO from $66.00 to $53.00 and set a sell rating for the company in a research note on Wednesday, October 31st. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. AGCO has an average rating of Hold and an average price target of $68.64.
Shares of AGCO stock traded down $2.15 on Wednesday, reaching $55.78. 1,033,638 shares of the company were exchanged, compared to its average volume of 810,015. AGCO has a 1-year low of $49.50 and a 1-year high of $75.95. The company has a market cap of $4.61 billion, a PE ratio of 18.47, a P/E/G ratio of 0.97 and a beta of 0.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.63 and a current ratio of 1.42.
AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.08. AGCO had a return on equity of 9.70% and a net margin of 2.49%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the company posted $0.76 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, sell-side analysts predict that AGCO will post 3.78 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Thursday, November 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Wednesday, November 14th. AGCO’s payout ratio is 19.87%.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in AGCO by 1.6% in the second quarter. BlackRock Inc. now owns 6,648,000 shares of the industrial products company’s stock valued at $403,667,000 after buying an additional 107,096 shares during the last quarter. Victory Capital Management Inc. lifted its stake in AGCO by 9.9% in the third quarter. Victory Capital Management Inc. now owns 3,125,516 shares of the industrial products company’s stock valued at $190,000,000 after buying an additional 280,561 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in AGCO by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,679,076 shares of the industrial products company’s stock valued at $162,673,000 after buying an additional 17,838 shares during the last quarter. LSV Asset Management lifted its stake in AGCO by 2.6% in the third quarter. LSV Asset Management now owns 2,572,230 shares of the industrial products company’s stock valued at $156,365,000 after buying an additional 64,829 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in AGCO by 45.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,018,666 shares of the industrial products company’s stock valued at $122,715,000 after buying an additional 631,175 shares during the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.
AGCO Company Profile
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.
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