Adecoagro (NYSE:AGRO) Given New $10.50 Price Target at JPMorgan Chase & Co.

Adecoagro (NYSE:AGRO) had its target price boosted by equities research analysts at JPMorgan Chase & Co. from $7.00 to $10.50 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 6.08% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley raised shares of Adecoagro from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $9.50 to $13.00 in a research report on Tuesday, March 17th. UBS Group raised shares of Adecoagro from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $8.00 to $16.20 in a research report on Monday, March 30th. Zacks Research cut shares of Adecoagro from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Wall Street Zen raised shares of Adecoagro from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Finally, Citigroup cut shares of Adecoagro from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $13.00 to $15.00 in a research report on Tuesday, April 14th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.12.

Adecoagro Stock Down 4.0%

Shares of NYSE:AGRO traded down $0.47 during trading on Monday, hitting $11.18. The company’s stock had a trading volume of 381,743 shares, compared to its average volume of 1,185,703. The business has a 50 day moving average price of $13.19 and a two-hundred day moving average price of $10.67. The company has a market capitalization of $1.59 billion, a PE ratio of 559.28 and a beta of -0.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.74. Adecoagro has a fifty-two week low of $6.89 and a fifty-two week high of $15.89.

Adecoagro (NYSE:AGRO) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.25 by ($0.49). The business had revenue of $419.45 million during the quarter, compared to analyst estimates of $408.94 million. Adecoagro had a negative return on equity of 2.38% and a net margin of 0.95%. As a group, research analysts expect that Adecoagro will post 1.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mariano Bosch sold 100,000 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were 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 directly owned 897,249 shares of the company’s stock, valued at $13,010,110.50. The trade was a 10.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 106,815 shares of company stock valued at $1,540,799 over the last three months.

Institutional Investors Weigh In On Adecoagro

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Securities Inc. lifted its position in Adecoagro by 4.3% in the fourth quarter. Principal Securities Inc. now owns 44,530 shares of the company’s stock valued at $353,000 after acquiring an additional 1,851 shares during the last quarter. Comprehensive Money Management Services LLC lifted its position in Adecoagro by 5.0% in the first quarter. Comprehensive Money Management Services LLC now owns 73,733 shares of the company’s stock valued at $1,107,000 after acquiring an additional 3,495 shares during the last quarter. Quantbot Technologies LP lifted its position in Adecoagro by 7.5% in the third quarter. Quantbot Technologies LP now owns 61,776 shares of the company’s stock valued at $484,000 after acquiring an additional 4,286 shares during the last quarter. State of Wyoming lifted 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 acquiring an additional 5,334 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in Adecoagro by 4.4% in the first quarter. Lazard Asset Management LLC now owns 197,265 shares of the company’s stock valued at $2,963,000 after acquiring an additional 8,341 shares during the last quarter. 45.25% of the stock is owned by hedge funds and other institutional investors.

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.