Adecoagro (NYSE:AGRO) Trading 6.3% Higher – Here’s Why

Adecoagro S.A. (NYSE:AGRO)’s share price rose 6.3% during trading on Wednesday . The stock traded as high as $10.20 and last traded at $10.23. Approximately 378,096 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 1,158,282 shares. The stock had previously closed at $9.62.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Adecoagro from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. UBS Group raised shares of Adecoagro from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $8.00 to $16.20 in a research note on Monday, March 30th. Weiss Ratings raised Adecoagro from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Citigroup downgraded shares of Adecoagro from a “buy” rating to a “neutral” rating and increased their target price for the stock from $13.00 to $15.00 in a research report on Tuesday, April 14th. Finally, Morgan Stanley upgraded Adecoagro from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $9.50 to $13.00 in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.12.

Adecoagro Price Performance

The company has a quick ratio of 0.86, a current ratio of 1.74 and a debt-to-equity ratio of 0.80. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 508.25 and a beta of -0.04. The stock’s 50-day moving average price is $11.72 and its 200 day moving average price is $10.87.

Adecoagro (NYSE:AGRO) last issued its earnings results on Monday, May 11th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.25 by ($0.49). Adecoagro had a negative return on equity of 2.38% and a net margin of 0.95%.The firm had revenue of $419.44 million during the quarter, compared to the consensus estimate of $408.94 million. Equities research analysts predict that Adecoagro S.A. will post 1.73 earnings per share for the current year.

Adecoagro Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, May 4th were given a dividend of $0.1213 per share. The ex-dividend date was Monday, May 4th. This represents a yield of 160.0%. Adecoagro’s dividend payout ratio is 1,200.00%.

Institutional Trading of Adecoagro

A number of hedge funds and other institutional investors have recently modified their holdings of AGRO. Orion Porfolio Solutions LLC bought a new position in Adecoagro in the fourth quarter valued at about $88,000. Quadrature Capital Ltd acquired a new position in Adecoagro in the fourth quarter valued at about $123,000. Virtu Financial LLC bought a new stake in shares of Adecoagro in the 4th quarter valued at about $147,000. State of Wyoming grew its holdings in Adecoagro by 44.9% during the second quarter. State of Wyoming now owns 17,203 shares of the company’s stock valued at $157,000 after purchasing an additional 5,334 shares during the period. Finally, Savant Capital LLC bought a new position in shares of Adecoagro during the fourth quarter worth $159,000. Institutional investors and hedge funds own 45.25% of the company’s stock.

About Adecoagro

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.