Citigroup Increases AGCO (NYSE:AGCO) Price Target to $98.00

AGCO (NYSE:AGCO) had its price target upped by Citigroup from $95.00 to $98.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s target price points to a potential upside of 3.08% from the company’s current price.

AGCO has been the subject of a number of other research reports. Oppenheimer increased their target price on shares of AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Morgan Stanley assumed coverage on shares of AGCO in a research report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price objective for the company. StockNews.com raised shares of AGCO from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised their target price on AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 15th. Finally, Robert W. Baird lowered shares of AGCO from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $116.00 to $100.00 in a research note on Monday, March 3rd. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, AGCO has a consensus rating of “Hold” and an average price target of $104.60.

AGCO Stock Up 1.3 %

AGCO stock traded up $1.23 during midday trading on Monday, hitting $95.07. The company’s stock had a trading volume of 390,557 shares, compared to its average volume of 815,075. AGCO has a twelve month low of $84.35 and a twelve month high of $125.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. The company’s fifty day moving average price is $98.45 and its 200 day moving average price is $96.58. The stock has a market capitalization of $7.09 billion, a P/E ratio of -16.68, a PEG ratio of 1.80 and a beta of 1.24.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. As a group, equities research analysts predict that AGCO will post 4.2 EPS for the current year.

Hedge Funds Weigh In On AGCO

Several institutional investors have recently made changes to their positions in AGCO. GeoWealth Management LLC purchased a new stake in AGCO in the fourth quarter worth about $27,000. Brooklyn Investment Group purchased a new stake in AGCO in the 3rd quarter worth approximately $29,000. Allworth Financial LP raised its stake in AGCO by 333.3% during the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 220 shares during the period. UMB Bank n.a. lifted its holdings in AGCO by 84.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 154 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of AGCO in the fourth quarter worth approximately $33,000. Institutional investors own 78.80% of the company’s stock.

AGCO Company Profile

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.