Adecoagro (NYSE:AGRO) Trading 3.7% Higher – Here’s Why

Adecoagro S.A. (NYSE:AGRO) shares traded up 3.7% during trading on Monday . The stock traded as high as $11.36 and last traded at $11.1350. Approximately 140,819 shares were traded during trading, a decline of 87% from the average session volume of 1,076,638 shares. The stock had previously closed at $10.74.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AGRO shares. Weiss Ratings lowered Adecoagro from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. raised their price objective on Adecoagro from $7.00 to $10.50 and gave the stock an “underweight” rating in a research report on Monday, June 15th. Finally, UBS Group cut their price objective on Adecoagro from $15.20 to $13.20 and set a “buy” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Adecoagro currently has a consensus rating of “Reduce” and an average target price of $11.62.

Adecoagro Price Performance

The business’s 50 day moving average is $9.98 and its two-hundred day moving average is $11.35. The firm has a market cap of $1.60 billion, a P/E ratio of 34.06 and a beta of -0.04. The company has a quick ratio of 0.89, a current ratio of 1.73 and a debt-to-equity ratio of 0.84.

Adecoagro (NYSE:AGRO) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.41). Adecoagro had a net margin of 3.03% and a negative return on equity of 0.38%. The firm had revenue of $538.50 million for the quarter, compared to the consensus estimate of $602.01 million. As a group, analysts anticipate that Adecoagro S.A. will post 1.42 earnings per share for the current year.

Institutional Investors Weigh In On Adecoagro

Several institutional investors and hedge funds have recently made changes to their positions in the business. Amundi increased its holdings in Adecoagro by 718.5% in the second quarter. Amundi now owns 782,432 shares of the company’s stock worth $7,472,000 after purchasing an additional 686,835 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Adecoagro by 86.5% during the 2nd quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock worth $4,192,000 after buying an additional 212,685 shares in the last quarter. Ghisallo Capital Management LLC acquired a new stake in shares of Adecoagro during the 4th quarter worth approximately $2,987,000. Ameriprise Financial Inc. grew its position in shares of Adecoagro by 32.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 370,391 shares of the company’s stock worth $3,385,000 after buying an additional 90,518 shares during the period. Finally, HRT Financial LP grew its position in shares of Adecoagro by 13.4% during the 4th quarter. HRT Financial LP now owns 312,828 shares of the company’s stock worth $2,480,000 after buying an additional 36,857 shares during the period. Institutional investors own 45.25% of the company’s stock.

Adecoagro Company Profile

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.