Adecoagro (NYSE:AGRO) Reaches New 52-Week High – Still a Buy?

Adecoagro S.A. (NYSE:AGRO)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $15.89 and last traded at $15.0250, with a volume of 2758393 shares trading hands. The stock had previously closed at $15.25.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AGRO. UBS Group raised Adecoagro from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $8.00 to $16.20 in a report on Monday. Truist Financial set a $9.00 target price on shares of Adecoagro in a research report on Friday, January 9th. Morgan Stanley upgraded shares of Adecoagro from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $9.50 to $13.00 in a research report on Tuesday, March 17th. Weiss Ratings raised shares of Adecoagro from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. Finally, Citigroup began coverage on shares of Adecoagro in a report on Monday, February 16th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.84.

Adecoagro Stock Down 1.5%

The company has a market cap of $1.50 billion, a P/E ratio of -187.79, a PEG ratio of 0.31 and a beta of 0.44. The company has a quick ratio of 0.82, a current ratio of 1.38 and a debt-to-equity ratio of 0.77. The firm has a fifty day moving average price of $10.27 and a 200 day moving average price of $8.76.

Adecoagro (NYSE:AGRO) last released its quarterly earnings results on Saturday, February 14th. The company reported ($0.15) earnings per share (EPS) for the quarter. Adecoagro had a negative net margin of 0.55% and a negative return on equity of 1.17%. The business had revenue of $432.91 million during the quarter. Equities research analysts forecast that Adecoagro S.A. will post 1.24 earnings per share for the current year.

Insider Buying and Selling at Adecoagro

In other news, CEO Mariano Bosch sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the transaction, the chief executive officer directly owned 897,249 shares in the company, valued at approximately $13,010,110.50. This represents a 10.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Trading of Adecoagro

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Orion Porfolio Solutions LLC acquired a new position in Adecoagro during the 4th quarter worth $88,000. Quadrature Capital Ltd acquired a new stake in shares of Adecoagro in the 4th quarter valued at $123,000. Jeppson Wealth Management LLC acquired a new stake in shares of Adecoagro in the 3rd quarter valued at $124,000. Virtu Financial LLC bought a new stake in shares of Adecoagro during the fourth quarter worth $147,000. Finally, State of Wyoming raised its position in shares of Adecoagro by 44.9% during the second quarter. State of Wyoming now owns 17,203 shares of the company’s stock worth $157,000 after acquiring an additional 5,334 shares during the last quarter. Institutional investors and hedge funds own 45.25% of the company’s stock.

Adecoagro Company Profile

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.