AGCO Corporation (AGCO) Given Buy Rating at Deutsche Bank AG
Deutsche Bank AG restated their buy rating on shares of AGCO Corporation (NYSE:AGCO) in a report issued on Monday morning. The firm currently has a $86.00 price objective on the industrial products company’s stock, down from their prior price objective of $90.00.
Other equities research analysts also recently issued reports about the company. TheStreet raised AGCO Corporation from a c+ rating to a b+ rating in a report on Thursday, July 27th. BidaskClub raised AGCO Corporation from a hold rating to a buy rating in a report on Tuesday, June 13th. Jefferies Group LLC reaffirmed a hold rating and set a $75.00 price objective on shares of AGCO Corporation in a report on Thursday, August 31st. Piper Jaffray Companies set a $66.00 price objective on AGCO Corporation and gave the company a hold rating in a report on Wednesday, August 9th. Finally, BMO Capital Markets lifted their price objective on AGCO Corporation from $70.00 to $75.00 and gave the company a market perform rating in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. AGCO Corporation presently has an average rating of Hold and a consensus price target of $68.23.
Shares of AGCO Corporation (NYSE AGCO) opened at 74.65 on Monday. The stock’s 50 day moving average price is $71.23 and its 200-day moving average price is $67.24. AGCO Corporation has a 12 month low of $48.93 and a 12 month high of $75.58. The firm has a market capitalization of $5.94 billion, a PE ratio of 32.64 and a beta of 0.86.
AGCO Corporation (NYSE:AGCO) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.11. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.08 billion. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. On average, equities analysts anticipate that AGCO Corporation will post $3.06 earnings per share for the current fiscal year.
In other news, SVP Lucinda B. Smith sold 1,000 shares of AGCO Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $73.00, for a total value of $73,000.00. Following the completion of the transaction, the senior vice president now owns 38,877 shares in the company, valued at $2,838,021. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert B. Crain sold 15,000 shares of AGCO Corporation stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total transaction of $1,076,700.00. Following the completion of the transaction, the senior vice president now owns 89,322 shares of the company’s stock, valued at approximately $6,411,533.16. The disclosure for this sale can be found here. Insiders sold 26,750 shares of company stock valued at $1,921,390 in the last quarter. 16.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Perpetual Ltd bought a new position in AGCO Corporation in the 2nd quarter worth approximately $2,870,000. WINTON GROUP Ltd bought a new position in AGCO Corporation in the 2nd quarter worth approximately $5,035,000. Ameritas Investment Partners Inc. raised its position in AGCO Corporation by 1.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 19,971 shares of the industrial products company’s stock worth $1,346,000 after purchasing an additional 298 shares during the last quarter. Susquehanna International Group LLP raised its position in AGCO Corporation by 256.7% in the 2nd quarter. Susquehanna International Group LLP now owns 17,123 shares of the industrial products company’s stock worth $1,154,000 after purchasing an additional 12,323 shares during the last quarter. Finally, 361 Capital LLC bought a new position in AGCO Corporation in the 2nd quarter worth approximately $1,786,000. Hedge funds and other institutional investors own 80.73% of the company’s stock.
About AGCO Corporation
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
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