AGCO (NYSE:AGCO) Receives Buy Rating from Truist Financial

Truist Financial reaffirmed their buy rating on shares of AGCO (NYSE:AGCO) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $118.00 price target on the industrial products company’s stock, down from their prior price target of $130.00.

Several other equities research analysts have also recently weighed in on the company. Raymond James started coverage on AGCO in a research note on Friday, June 28th. They set a market perform rating on the stock. Barclays reduced their price objective on AGCO from $145.00 to $110.00 and set an equal weight rating on the stock in a research note on Thursday, July 18th. The Goldman Sachs Group reduced their price objective on AGCO from $127.00 to $112.00 and set a neutral rating on the stock in a research note on Thursday, July 11th. Citigroup started coverage on AGCO in a research note on Wednesday, June 26th. They set a neutral rating and a $108.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on AGCO from $135.00 to $130.00 and set an overweight rating on the stock in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $121.20.

AGCO Price Performance

NYSE:AGCO opened at $89.57 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $6.68 billion, a P/E ratio of 6.06, a P/E/G ratio of 0.86 and a beta of 1.27. AGCO has a 12 month low of $88.12 and a 12 month high of $132.94. The business’s 50-day moving average is $100.24 and its 200 day moving average is $110.55.

AGCO (NYSE:AGCO) last posted 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 firm 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 quarterly revenue was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.29 earnings per share. On average, equities research analysts forecast that AGCO will post 7.89 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a $0.29 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.30%. AGCO’s dividend payout ratio (DPR) is currently 7.85%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Chase Investment Counsel Corp purchased a new stake in AGCO during the second quarter worth $1,114,000. Impact Partnership Wealth LLC lifted its holdings in AGCO by 99,625.0% during the second quarter. Impact Partnership Wealth LLC now owns 3,989 shares of the industrial products company’s stock worth $390,000 after buying an additional 3,985 shares during the period. Hodges Capital Management Inc. lifted its holdings in AGCO by 0.8% during the second quarter. Hodges Capital Management Inc. now owns 17,520 shares of the industrial products company’s stock worth $1,715,000 after buying an additional 143 shares during the period. CIBC Asset Management Inc lifted its holdings in AGCO by 18.6% during the second quarter. CIBC Asset Management Inc now owns 2,088 shares of the industrial products company’s stock worth $204,000 after buying an additional 327 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in AGCO by 0.4% during the second quarter. Natixis Advisors LLC now owns 38,750 shares of the industrial products company’s stock worth $3,793,000 after buying an additional 145 shares during the period. Institutional investors own 78.80% of the company’s stock.

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.