Adecoagro (AGRO) Upgraded to “Hold” at Zacks Investment Research

Adecoagro (NYSE:AGRO) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Adecoagro S.A. operates as an agricultural company in South America, with operations in Argentina, Brazil and Uruguay. The Company is engaged in farming crops and other agricultural products, cattle and dairy operations, sugar, ethanol and energy production and land transformation. Adecoagro S.A. is based in Luxembourg. “

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AGRO has been the subject of a number of other reports. ValuEngine lowered Adecoagro from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. JPMorgan Chase lowered Adecoagro from an “overweight” rating to a “neutral” rating and set a $9.00 price target for the company. in a research note on Wednesday, April 4th. Finally, UBS lowered Adecoagro from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 15th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Adecoagro currently has a consensus rating of “Hold” and a consensus price target of $9.00.

NYSE AGRO traded up $0.15 on Tuesday, reaching $8.02. 501,394 shares of the stock traded hands, compared to its average volume of 644,779. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.50 and a current ratio of 2.44. The firm has a market cap of $962.69, a P/E ratio of 100.25 and a beta of 1.12. Adecoagro has a 12 month low of $7.22 and a 12 month high of $11.92.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AGRO. Vanguard Group Inc. boosted its stake in shares of Adecoagro by 46.5% during the 2nd quarter. Vanguard Group Inc. now owns 21,113 shares of the company’s stock worth $211,000 after acquiring an additional 6,700 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Adecoagro by 26.5% in the third quarter. New York State Common Retirement Fund now owns 182,067 shares of the company’s stock valued at $1,966,000 after purchasing an additional 38,165 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Adecoagro by 1,516.5% in the third quarter. Wells Fargo & Company MN now owns 13,045 shares of the company’s stock valued at $141,000 after purchasing an additional 12,238 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Adecoagro by 21.0% in the third quarter. Cubist Systematic Strategies LLC now owns 90,067 shares of the company’s stock valued at $973,000 after purchasing an additional 15,661 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in shares of Adecoagro by 238.9% in the third quarter. GSA Capital Partners LLP now owns 43,071 shares of the company’s stock valued at $465,000 after purchasing an additional 30,361 shares in the last quarter. 41.08% of the stock is owned by institutional investors and hedge funds.

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Adecoagro Company Profile

Adecoagro SA, an agricultural company, engages in farming crops and other agricultural products, dairy operations, sugar, ethanol and energy production, and land transformation activities in South America. The company is involved in planting, harvesting, and selling grains, oilseeds, and fibers, including wheat, corn, soybeans, cotton, sunflowers, and others; and providing grain warehousing/conditioning, and handling and drying services to third parties.

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