AGCO (NYSE:AGCO) Lowered to Sell Rating by StockNews.com

StockNews.com lowered shares of AGCO (NYSE:AGCO) from a hold rating to a sell rating in a research report report published on Thursday.

A number of other brokerages also recently issued reports on AGCO. Oppenheimer reduced their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Citigroup lifted their price target on shares of AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Truist Financial lifted their price target on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. UBS Group reduced their price target on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reduced their price target on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $114.40.

AGCO Stock Up 2.1 %

AGCO opened at $101.46 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. AGCO has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The firm’s fifty day moving average is $96.97 and its 200 day moving average is $97.32. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 44.89, a price-to-earnings-growth ratio of 0.57 and a beta of 1.25.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the firm posted $3.97 EPS. The firm’s quarterly revenue was down 24.8% compared to the same quarter last year. On average, sell-side analysts forecast that AGCO will post 7.34 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 1.14%. AGCO’s payout ratio is 51.33%.

Hedge Funds Weigh In On AGCO

Several hedge funds have recently added to or reduced their stakes in the company. Forum Financial Management LP grew its holdings in AGCO by 5.5% during the 2nd quarter. Forum Financial Management LP now owns 2,108 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 109 shares during the last quarter. Capital Insight Partners LLC grew its holdings in AGCO by 2.6% during the 2nd quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company’s stock valued at $431,000 after purchasing an additional 110 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in AGCO by 28.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 117 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in AGCO by 0.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company’s stock valued at $1,666,000 after purchasing an additional 126 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in AGCO by 50.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after buying an additional 139 shares during the period. 78.80% of the stock is currently owned by institutional investors.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; 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, equestrian, and residential uses.