Wall Street Zen Upgrades Adecoagro (NYSE:AGRO) to Hold

Adecoagro (NYSE:AGRO) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other analysts have also weighed in on the stock. UBS Group raised shares of Adecoagro from a “neutral” rating to a “buy” rating and upped their target price for the stock from $8.00 to $16.20 in a report on Monday, March 30th. Bank of America upgraded shares of Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price target for the company in a research report on Friday, January 9th. Weiss Ratings raised shares of Adecoagro from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 4th. Citigroup started coverage on Adecoagro in a research report on Monday, February 16th. They issued a “buy” rating on the stock. Finally, Zacks Research lowered Adecoagro from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.84.

Adecoagro Stock Up 0.3%

Shares of NYSE AGRO opened at $15.26 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.38 and a debt-to-equity ratio of 0.77. The company has a market cap of $1.53 billion, a P/E ratio of -190.78, a P/E/G ratio of 0.31 and a beta of 0.08. Adecoagro has a 52 week low of $6.89 and a 52 week high of $15.89. The business has a 50-day simple moving average of $10.64 and a two-hundred day simple moving average of $8.91.

Adecoagro (NYSE:AGRO) last announced its quarterly earnings results 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 firm had revenue of $432.91 million during the quarter. Research analysts anticipate that Adecoagro will post 1.24 earnings per share for the current fiscal year.

Insider Activity

In other Adecoagro news, CEO Mariano Bosch sold 100,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 897,249 shares of the company’s stock, valued at $13,010,110.50. This represents a 10.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Adecoagro

Institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in Adecoagro during the 4th quarter valued at $147,000. Tudor Investment Corp ET AL grew its holdings in Adecoagro by 134.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 88,132 shares of the company’s stock worth $699,000 after acquiring an additional 50,464 shares during the last quarter. Polymer Capital Management US LLC purchased a new position in shares of Adecoagro in the fourth quarter valued at about $939,000. Quadrature Capital Ltd purchased a new position in shares of Adecoagro in the fourth quarter valued at about $123,000. Finally, Millennium Management LLC raised its stake in shares of Adecoagro by 240.9% during the fourth quarter. Millennium Management LLC now owns 276,376 shares of the company’s stock valued at $2,192,000 after acquiring an additional 195,308 shares during the last quarter. 45.25% of the stock is currently owned by institutional investors.

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.