Adecoagro (NYSE:AGRO) Upgraded by Morgan Stanley to Equal Weight Rating

Adecoagro (NYSE:AGRO) was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued on Tuesday, MarketBeat.com reports. The firm currently has a $13.00 price target on the stock, up from their prior price target of $9.50. Morgan Stanley’s price objective indicates a potential upside of 19.10% from the stock’s current price.

AGRO has been the topic of several other reports. Citigroup assumed coverage on Adecoagro in a research note on Monday, February 16th. They set a “buy” rating on the stock. Zacks Research cut Adecoagro from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Truist Financial set a $9.00 target price on 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 set an “underweight” rating and a $7.00 price target on the stock. Finally, UBS Group reduced their price target on shares of Adecoagro from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Adecoagro has an average rating of “Hold” and an average price target of $9.20.

Adecoagro Stock Up 0.9%

Shares of Adecoagro stock opened at $10.92 on Tuesday. The company has a 50-day simple moving average of $8.98 and a two-hundred day simple moving average of $8.30. The stock has a market capitalization of $1.09 billion, a PE ratio of 47.46 and a beta of 0.44. Adecoagro has a 52-week low of $6.89 and a 52-week high of $11.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 2.80.

Adecoagro (NYSE:AGRO) last posted its quarterly earnings results on Monday, March 16th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). The firm had revenue of $415.94 million for the quarter, compared to analysts’ expectations of $371.95 million. Adecoagro had a net margin of 1.67% and a return on equity of 3.09%. On average, analysts anticipate that Adecoagro will post 1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Adecoagro

Institutional investors have recently bought and sold shares of the stock. Orion Porfolio Solutions LLC bought a new position in Adecoagro in the 4th quarter worth $88,000. Quadrature Capital Ltd bought a new stake in Adecoagro during the fourth quarter valued at about $123,000. Jeppson Wealth Management LLC purchased a new stake in Adecoagro in the third quarter worth about $124,000. State of Wyoming increased its position in Adecoagro by 44.9% in the second quarter. State of Wyoming now owns 17,203 shares of the company’s stock worth $157,000 after buying an additional 5,334 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Adecoagro in the fourth quarter worth about $147,000. 45.25% of the stock is owned by 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.