Adecoagro (NYSE:AGRO) Cut to “Hold” at Zacks Research

Adecoagro (NYSE:AGRO) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

AGRO has been the topic of several other reports. Citigroup started coverage on shares of Adecoagro in a report on Monday, February 16th. They set a “buy” rating on the stock. Bank of America raised 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. UBS Group cut their target price on Adecoagro from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Tuesday, December 2nd. JPMorgan Chase & Co. initiated coverage on Adecoagro in a report on Monday, December 1st. They set an “underweight” rating and a $7.00 target price on the stock. Finally, Weiss Ratings raised Adecoagro from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $8.50.

Adecoagro Price Performance

Shares of NYSE AGRO opened at $10.19 on Monday. The firm has a market cap of $1.02 billion, a P/E ratio of 44.28 and a beta of 0.44. The business’s 50 day moving average is $8.76 and its 200-day moving average is $8.24. The company has a current ratio of 2.80, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. Adecoagro has a 1-year low of $6.89 and a 1-year high of $11.78.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Orion Porfolio Solutions LLC bought a new position in shares of Adecoagro in the 4th quarter valued at $88,000. Quadrature Capital Ltd bought a new stake in Adecoagro during the 4th quarter worth $123,000. Jeppson Wealth Management LLC bought a new stake in Adecoagro during the 3rd quarter worth $124,000. Virtu Financial LLC acquired a new position in Adecoagro in the 4th quarter worth about $147,000. Finally, State of Wyoming raised its position in Adecoagro by 44.9% in the second quarter. State of Wyoming now owns 17,203 shares of the company’s stock valued at $157,000 after purchasing an additional 5,334 shares during the last quarter. Institutional investors own 45.25% of the company’s stock.

Adecoagro Company Profile

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.