Zacks Investment Research upgraded shares of Adecoagro SA (NYSE:AGRO) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. The firm currently has $13.00 price objective on the stock.

According to Zacks, “Adecoagro S.A. operates as an agricultural company in South America, with operations in Argentina, Brazil and Uruguay. The Company is engaged in farming crops and other agricultural products, cattle and dairy operations, sugar, ethanol and energy production and land transformation. Adecoagro S.A. is based in Luxembourg. “

Shares of Adecoagro SA (NYSE:AGRO) opened at 11.90 on Tuesday. Adecoagro SA has a 52 week low of $9.38 and a 52 week high of $13.29. The stock has a 50 day moving average of $12.10 and a 200-day moving average of $11.14. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 495.83 and a beta of 0.95.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Manning & Napier Advisors LLC raised its position in shares of Adecoagro SA by 53.9% in the third quarter. Manning & Napier Advisors LLC now owns 2,408,790 shares of the company’s stock valued at $27,483,000 after buying an additional 844,040 shares during the period. Brandes Investment Partners LP raised its position in Adecoagro SA by 0.4% in the third quarter. Brandes Investment Partners LP now owns 1,872,096 shares of the company’s stock worth $21,303,000 after buying an additional 7,710 shares during the last quarter. Teachers Advisors LLC purchased a new position in Adecoagro SA during the third quarter worth about $11,612,000. Norges Bank purchased a new position in Adecoagro SA during the fourth quarter worth about $5,503,000. Finally, TIAA CREF Investment Management LLC raised its position in Adecoagro SA by 743.2% in the third quarter. TIAA CREF Investment Management LLC now owns 506,618 shares of the company’s stock worth $5,781,000 after buying an additional 446,532 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Adecoagro SA Company Profile

Adecoagro SA is a holding company. The Company is involved in a range of businesses, including farming crops and other agricultural products, dairy operations, sugar, ethanol and energy production and land transformation. The Company is organized into three main lines of business: farming; land transformation, and sugar, ethanol and energy.

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