Adecoagro (NYSE:AGRO) Reaches New 52-Week High Following Analyst Upgrade

Adecoagro S.A. (NYSE:AGRO)’s stock price reached a new 52-week high on Tuesday after Morgan Stanley upgraded the stock from an underweight rating to an equal weight rating. Morgan Stanley now has a $13.00 price target on the stock, up from their previous price target of $9.50. Adecoagro traded as high as $12.38 and last traded at $12.1960, with a volume of 1546313 shares traded. The stock had previously closed at $10.90.

Several other equities research analysts have also commented on AGRO. Bank of America raised shares of Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price objective on the stock in a research note on Friday, January 9th. Citigroup began coverage on shares of Adecoagro in a research note on Monday, February 16th. They set a “buy” rating for the company. Truist Financial set a $9.00 price target on Adecoagro in a research report on Friday, January 9th. Zacks Research lowered Adecoagro from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Wall Street Zen cut Adecoagro from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Adecoagro currently has a consensus rating of “Hold” and an average target price of $9.20.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Sparta 24 Ltd. lifted its holdings in shares of Adecoagro by 4.8% during the third quarter. Sparta 24 Ltd. now owns 2,200,278 shares of the company’s stock valued at $17,250,000 after purchasing an additional 100,000 shares in the last quarter. Invesco Ltd. increased its holdings in Adecoagro by 86.5% in the 2nd quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock worth $4,192,000 after buying an additional 212,685 shares in the last quarter. Ghisallo Capital Management LLC purchased a new position in Adecoagro in the 4th quarter worth about $2,987,000. Ameriprise Financial Inc. lifted its stake in Adecoagro by 32.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 370,391 shares of the company’s stock valued at $3,385,000 after acquiring an additional 90,518 shares during the period. Finally, HRT Financial LP lifted its stake in Adecoagro by 13.4% during the 4th quarter. HRT Financial LP now owns 312,828 shares of the company’s stock valued at $2,480,000 after acquiring an additional 36,857 shares during the period. Hedge funds and other institutional investors own 45.25% of the company’s stock.

Adecoagro Stock Performance

The business’s fifty day moving average price is $8.98 and its 200-day moving average price is $8.30. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 2.80. The stock has a market cap of $1.22 billion, a PE ratio of 53.09 and a beta of 0.44.

Adecoagro (NYSE:AGRO) last released its quarterly earnings data on Monday, March 16th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.07). The company had revenue of $415.94 million for the quarter, compared to analysts’ expectations of $371.95 million. Adecoagro had a net margin of 1.67% and a return on equity of 3.09%. As a group, equities research analysts forecast that Adecoagro S.A. will post 1.24 EPS for the current fiscal year.

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.