AGCO (NYSE:AGCO)‘s stock had its “hold” rating reaffirmed by investment analysts at Royal Bank of Canada in a research note issued on Wednesday. They currently have a $77.00 price target on the industrial products company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 16.14% from the stock’s current price.
Several other analysts also recently weighed in on AGCO. Stifel Nicolaus reaffirmed a “hold” rating and set a $73.00 target price on shares of AGCO in a research note on Thursday, December 21st. Seaport Global Securities reissued a “hold” rating on shares of AGCO in a research note on Thursday, January 18th. JPMorgan Chase raised AGCO from an “underweight” rating to a “neutral” rating in a research note on Wednesday, February 7th. Bank of America dropped their price objective on AGCO from $70.00 to $64.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 7th. Finally, Credit Suisse Group dropped their price objective on AGCO from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $72.67.
Shares of AGCO stock opened at $66.30 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.37. The firm has a market cap of $5,215.57, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 1.39 and a beta of 0.83. AGCO has a 1-year low of $58.41 and a 1-year high of $75.95.
AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.40 billion. AGCO had a net margin of 2.24% and a return on equity of 8.04%. The firm’s revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 EPS. research analysts forecast that AGCO will post 3.7 EPS for the current fiscal year.
In other news, VP Richard Robinson Smith sold 2,567 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $67.72, for a total transaction of $173,837.24. Following the sale, the vice president now directly owns 33,431 shares of the company’s stock, valued at $2,263,947.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 4,385 shares of company stock worth $268,581 over the last ninety days. 16.70% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in AGCO. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of AGCO by 305.1% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 34,792 shares of the industrial products company’s stock valued at $2,506,000 after buying an additional 26,204 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new position in shares of AGCO during the fourth quarter valued at $999,000. Hermes Investment Management Ltd. grew its holdings in shares of AGCO by 52.6% during the fourth quarter. Hermes Investment Management Ltd. now owns 10,073 shares of the industrial products company’s stock valued at $720,000 after buying an additional 3,473 shares in the last quarter. Itau Unibanco Holding S.A. grew its holdings in shares of AGCO by 40.2% during the fourth quarter. Itau Unibanco Holding S.A. now owns 4,698 shares of the industrial products company’s stock valued at $336,000 after buying an additional 1,347 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of AGCO by 39.6% during the fourth quarter. Toronto Dominion Bank now owns 3,750 shares of the industrial products company’s stock valued at $268,000 after buying an additional 1,064 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.
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AGCO Company Profile
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, and residential uses.
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