Adecoagro (NYSE:AGRO) Trading 7.4% Higher Following Analyst Upgrade

Adecoagro S.A. (NYSE:AGRO)’s stock price traded up 7.4% on Monday after UBS Group upgraded the stock from a neutral rating to a buy rating. UBS Group now has a $16.20 price target on the stock, up from their previous price target of $8.00. Adecoagro traded as high as $15.41 and last traded at $15.09. 730,442 shares were traded during trading, a decline of 36% from the average session volume of 1,146,247 shares. The stock had previously closed at $14.05.

Several other analysts also recently commented on the stock. Truist Financial set a $9.00 price objective on shares of Adecoagro in a research report on Friday, January 9th. JPMorgan Chase & Co. started coverage on shares of Adecoagro in a report on Monday, December 1st. They issued an “underweight” rating and a $7.00 target price for the company. Citigroup started coverage on shares of Adecoagro in a research note on Monday, February 16th. They issued a “buy” rating on the stock. Morgan Stanley raised shares of Adecoagro from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $9.50 to $13.00 in a research report on Tuesday, March 17th. Finally, Bank of America upgraded shares of Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price objective for the company in a report on Friday, January 9th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Adecoagro currently has a consensus rating of “Hold” and a consensus price target of $10.84.

Insider Buying and Selling

In other Adecoagro news, CEO Mariano Bosch sold 100,000 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $14.50, for a total value of $1,450,000.00. Following the completion of the transaction, the chief executive officer owned 897,249 shares of the company’s stock, valued at approximately $13,010,110.50. The trade was a 10.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Adecoagro

Several institutional investors and hedge funds have recently added to or reduced their stakes in AGRO. Goldman Sachs Group Inc. raised its stake in Adecoagro by 48.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 86,739 shares of the company’s stock valued at $969,000 after buying an additional 28,275 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Adecoagro by 20.5% in the first quarter. Jane Street Group LLC now owns 189,055 shares of the company’s stock worth $2,112,000 after acquiring an additional 32,169 shares during the period. Quantbot Technologies LP increased its position in Adecoagro by 113.8% during the second quarter. Quantbot Technologies LP now owns 57,490 shares of the company’s stock valued at $525,000 after acquiring an additional 30,602 shares during the last quarter. Invesco Ltd. lifted its holdings in Adecoagro by 86.5% in the second quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock valued at $4,192,000 after acquiring an additional 212,685 shares during the period. Finally, Pale Fire Capital SE purchased a new position in Adecoagro in the second quarter worth about $774,000. Hedge funds and other institutional investors own 45.25% of the company’s stock.

Adecoagro Trading Up 6.6%

The firm has a market capitalization of $1.50 billion, a P/E ratio of -187.91, a P/E/G ratio of 0.29 and a beta of 0.44. The company has a current ratio of 1.38, a quick ratio of 0.82 and a debt-to-equity ratio of 0.77. The stock has a 50 day simple moving average of $10.00 and a 200-day simple moving average of $8.66.

Adecoagro (NYSE:AGRO) last posted its quarterly earnings data on Saturday, February 14th. The company reported ($0.15) earnings per share (EPS) for the quarter. Adecoagro had a negative return on equity of 1.17% and a negative net margin of 0.55%.The business had revenue of $432.91 million during the quarter. On average, equities research analysts forecast that Adecoagro S.A. will post 1.24 EPS for the current fiscal year.

About Adecoagro

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.