AGCO (NYSE:AGCO) Stock Price Expected to Rise, Morgan Stanley Analyst Says

AGCO (NYSE:AGCO) had its price target boosted by research analysts at Morgan Stanley from $99.00 to $113.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the industrial products company’s stock. Morgan Stanley‘s price objective suggests a potential upside of 0.56% from the stock’s previous close.

AGCO has been the subject of a number of other reports. Wells Fargo & Company reduced their price objective on shares of AGCO from $132.00 to $117.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. UBS Group lowered their target price on shares of AGCO from $123.00 to $114.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 4th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $108.00 target price on shares of AGCO in a report on Friday, July 31st. Weiss Ratings lowered AGCO from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Friday. Finally, Robert W. Baird raised AGCO from a “neutral” rating to an “outperform” rating and raised their price target for the company from $120.00 to $150.00 in a report on Monday, August 31st. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, AGCO presently has an average rating of “Hold” and an average price target of $123.67.

AGCO Stock Performance

AGCO stock traded up $1.20 during midday trading on Wednesday, hitting $112.37. The stock had a trading volume of 126,365 shares, compared to its average volume of 845,837. The firm’s fifty day moving average is $114.21 and its two-hundred day moving average is $116.30. The company has a market capitalization of $7.75 billion, a PE ratio of 28.90, a P/E/G ratio of 0.87 and a beta of 1.12. AGCO has a 52-week low of $98.22 and a 52-week high of $143.78. The company has a current ratio of 1.32, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53.

AGCO (NYSE:AGCO) last released its earnings results on Thursday, October 29th. The industrial products company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.18. AGCO had a net margin of 2.76% and a return on equity of 9.66%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter last year, the business earned $1.35 EPS. The firm’s revenue was down 8.6% compared to the same quarter last year. On average, research analysts forecast that AGCO will post 5.48 EPS for the current year.

Insider Activity at AGCO

In other news, CEO Eric Hansotia sold 2,604 shares of AGCO stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $129.75, for a total transaction of $337,869.00. Following the sale, the chief executive officer owned 326,939 shares in the company, valued at $42,420,335.25. This trade represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Ivory Harris sold 1,600 shares of AGCO stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $125.30, for a total transaction of $200,480.00. Following the sale, the senior vice president owned 14,454 shares in the company, valued at approximately $1,811,086.20. The trade was a 9.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 5,204 shares of company stock valued at $671,239. Corporate insiders own 0.62% of the company’s stock.

Institutional Trading of AGCO

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Reyes Financial Architecture Inc. bought a new position in shares of AGCO during the 3rd quarter valued at about $25,000. Provenance Wealth Advisors LLC purchased a new position in shares of AGCO during the third quarter valued at about $25,000. Fortitude Family Office LLC increased its holdings in shares of AGCO by 234.8% in the third quarter. Fortitude Family Office LLC now owns 231 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 162 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of AGCO in the second quarter worth about $29,000. Finally, Root Financial Partners LLC bought a new stake in shares of AGCO in the third quarter worth about $30,000. 78.80% of the stock is currently owned by institutional investors.

AGCO Company Profile

AGCO Corporation (NYSE: AGCO) is a global manufacturer and distributor of agricultural equipment, technologies and related services. The company serves farmers, agricultural contractors and equipment dealers with products designed for planting, harvesting, crop protection, hay and forage production, and grain handling.

AGCO’s product portfolio includes tractors, combines, planters, seeding equipment, sprayers, hay and forage machinery, grain storage and handling systems, replacement parts, and precision agriculture solutions.