AGCO (NYSE:AGCO) Rating Increased to Buy at Jefferies Financial Group

AGCO (NYSE:AGCO) was upgraded by stock analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued on Monday, MarketBeat Ratings reports. The firm presently has a $90.00 price objective on the industrial products company’s stock, up from their previous price objective of $70.00. Jefferies Financial Group’s price objective points to a potential upside of 17.16% from the stock’s previous close. Jefferies Financial Group also issued estimates for AGCO’s Q4 2019 earnings at $1.43 EPS, FY2020 earnings at $5.55 EPS and FY2021 earnings at $5.95 EPS.

A number of other equities research analysts have also recently weighed in on AGCO. ValuEngine raised shares of AGCO from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Zacks Investment Research raised shares of AGCO from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Tuesday, April 16th. UBS Group boosted their price target on shares of AGCO from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Morgan Stanley set a $60.00 price target on shares of AGCO and gave the company a “sell” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada boosted their price target on shares of AGCO to $86.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $73.17.

Shares of AGCO opened at $76.82 on Monday. AGCO has a 1-year low of $49.50 and a 1-year high of $77.40. The stock has a market capitalization of $5.74 billion, a PE ratio of 19.75, a PEG ratio of 1.13 and a beta of 0.89. The company has a current ratio of 1.30, a quick ratio of 0.54 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $70.36.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.44. AGCO had a net margin of 3.49% and a return on equity of 11.62%. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the company earned $0.30 earnings per share. AGCO’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts anticipate that AGCO will post 4.93 earnings per share for the current fiscal year.

In other news, Chairman Martin Richenhagen sold 51,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $71.60, for a total transaction of $3,651,600.00. Following the transaction, the chairman now directly owns 473,733 shares in the company, valued at $33,919,282.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Robert B. Crain sold 25,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $72.86, for a total transaction of $1,821,500.00. Following the transaction, the senior vice president now owns 81,914 shares in the company, valued at $5,968,254.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 280,000 shares of company stock worth $19,869,380. 17.60% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of AGCO. FMR LLC lifted its holdings in shares of AGCO by 29.1% in the first quarter. FMR LLC now owns 1,370,072 shares of the industrial products company’s stock valued at $95,288,000 after purchasing an additional 309,101 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of AGCO by 2.9% during the first quarter. Nordea Investment Management AB now owns 464,061 shares of the industrial products company’s stock valued at $32,275,000 after buying an additional 12,979 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of AGCO by 0.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 533,367 shares of the industrial products company’s stock valued at $37,096,000 after buying an additional 4,890 shares during the period. Riverhead Capital Management LLC lifted its stake in shares of AGCO by 128.0% during the first quarter. Riverhead Capital Management LLC now owns 30,305 shares of the industrial products company’s stock valued at $2,108,000 after buying an additional 17,014 shares during the period. Finally, Tyers Asset Management LLC lifted its stake in shares of AGCO by 127.8% during the first quarter. Tyers Asset Management LLC now owns 27,232 shares of the industrial products company’s stock valued at $1,894,000 after buying an additional 15,280 shares during the period. Institutional investors and hedge funds own 80.87% of the company’s stock.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.

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Analyst Recommendations for AGCO (NYSE:AGCO)

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