UBS Group Upgrades Adecoagro (NYSE:AGRO) to “Buy”

Adecoagro (NYSE:AGRO) was upgraded by UBS Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat reports. The firm currently has a $16.20 price objective on the stock. UBS Group’s price objective points to a potential upside of 14.97% from the company’s current price.

Several other research analysts have also weighed in on AGRO. Truist Financial set a $9.00 price objective on shares of Adecoagro in a research note on Friday, January 9th. Citigroup initiated coverage on shares of Adecoagro in a research note on Monday, February 16th. They set a “buy” rating for the company. Bank of America upgraded shares of Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price target on the stock in a report on Friday, January 9th. 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, JPMorgan Chase & Co. initiated coverage on Adecoagro in a report on Monday, December 1st. They set an “underweight” rating and a $7.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.84.

Adecoagro Trading Up 0.3%

NYSE:AGRO opened at $14.09 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.38 and a quick ratio of 0.82. Adecoagro has a fifty-two week low of $6.89 and a fifty-two week high of $14.95. The stock’s 50-day moving average is $10.00 and its two-hundred day moving average is $8.66. The stock has a market cap of $1.41 billion, a PE ratio of -176.12, a price-to-earnings-growth ratio of 0.29 and a beta of 0.44.

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

Insiders Place Their Bets

In related news, CEO Mariano Bosch sold 100,000 shares of the firm’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 owned 897,249 shares of the company’s stock, valued at approximately $13,010,110.50. This trade represents a 10.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Trading of Adecoagro

Several large investors have recently added to or reduced their stakes in AGRO. Principal Securities Inc. raised its holdings in shares of Adecoagro by 4.3% during the 4th quarter. Principal Securities Inc. now owns 44,530 shares of the company’s stock valued at $353,000 after purchasing an additional 1,851 shares in the last quarter. Ping Capital Management Inc. lifted its stake in shares of Adecoagro by 3.1% in the 3rd quarter. Ping Capital Management Inc. now owns 100,000 shares of the company’s stock valued at $784,000 after purchasing an additional 3,000 shares during the last quarter. State of Wyoming boosted its holdings in Adecoagro by 17.8% in the third quarter. State of Wyoming now owns 20,270 shares of the company’s stock worth $159,000 after purchasing an additional 3,067 shares in the last quarter. Quantbot Technologies LP boosted its holdings in Adecoagro by 7.5% in the third quarter. Quantbot Technologies LP now owns 61,776 shares of the company’s stock worth $484,000 after purchasing an additional 4,286 shares in the last quarter. Finally, R Squared Ltd increased its position in Adecoagro by 61.1% during the third quarter. R Squared Ltd now owns 22,302 shares of the company’s stock worth $175,000 after buying an additional 8,462 shares during the last quarter. 45.25% of the stock is owned by institutional investors.

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.