Adecoagro (NYSE:AGRO) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Adecoagro (NYSE:AGRO) from a buy rating to a hold rating in a research note published on Thursday morning.

Adecoagro Stock Performance

Shares of AGRO stock opened at $10.80 on Thursday. The firm has a 50-day moving average of $9.75 and a 200-day moving average of $10.65. The company has a market cap of $1.12 billion, a P/E ratio of 7.20, a P/E/G ratio of 1.42 and a beta of 1.03. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.40 and a quick ratio of 1.09. Adecoagro has a one year low of $8.72 and a one year high of $12.07.

Hedge Funds Weigh In On Adecoagro

Several institutional investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd grew its position in Adecoagro by 21.9% during the third quarter. Point72 Hong Kong Ltd now owns 5,200 shares of the company’s stock valued at $58,000 after buying an additional 933 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in shares of Adecoagro by 1.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 149,450 shares of the company’s stock valued at $1,657,000 after acquiring an additional 1,900 shares during the period. Ping Capital Management Inc. raised its stake in Adecoagro by 1.9% in the fourth quarter. Ping Capital Management Inc. now owns 105,000 shares of the company’s stock valued at $990,000 after purchasing an additional 2,000 shares in the last quarter. Lazard Asset Management LLC raised its stake in Adecoagro by 26.3% in the fourth quarter. Lazard Asset Management LLC now owns 13,406 shares of the company’s stock valued at $126,000 after purchasing an additional 2,794 shares in the last quarter. Finally, Principal Securities Inc. raised its stake in Adecoagro by 9.6% in the fourth quarter. Principal Securities Inc. now owns 33,886 shares of the company’s stock valued at $320,000 after purchasing an additional 2,970 shares in the last quarter. Institutional investors own 45.25% of the company’s stock.

Adecoagro Company Profile

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.