Piper Jaffray Companies reiterated their hold rating on shares of AGCO Corporation (NYSE:AGCO) in a research note published on Thursday. The brokerage currently has a $66.00 price target on the industrial products company’s stock.

A number of other brokerages also recently commented on AGCO. UBS AG upgraded shares of AGCO Corporation from a sell rating to a neutral rating and boosted their target price for the stock from $52.00 to $68.00 in a report on Wednesday, June 21st. Deutsche Bank AG reiterated a buy rating and issued a $90.00 target price (up from $88.00) on shares of AGCO Corporation in a report on Thursday, September 21st. TheStreet upgraded shares of AGCO Corporation from a c+ rating to a b+ rating in a report on Thursday, July 27th. Bank of America Corporation downgraded shares of AGCO Corporation from a neutral rating to an underperform rating and reduced their target price for the stock from $74.65 to $70.00 in a report on Friday, October 13th. Finally, Zacks Investment Research downgraded shares of AGCO Corporation from a strong-buy rating to a hold rating in a report on Wednesday, October 11th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $68.36.

Shares of AGCO Corporation (NYSE:AGCO) traded down 1.28% during mid-day trading on Thursday, reaching $70.82. 851,920 shares of the company traded hands. The stock has a market capitalization of $5.63 billion, a PE ratio of 30.97 and a beta of 0.86. AGCO Corporation has a 52 week low of $48.93 and a 52 week high of $75.58. The firm has a 50 day moving average of $71.91 and a 200-day moving average of $67.67.

AGCO Corporation (NYSE:AGCO) last announced its earnings results on Thursday, July 27th. The industrial products company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.11. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.08 billion. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. On average, equities research analysts expect that AGCO Corporation will post $3.06 EPS for the current fiscal year.

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In related news, CFO Andrew H. Beck sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $72.18, for a total value of $721,800.00. Following the sale, the chief financial officer now owns 142,079 shares in the company, valued at $10,255,262.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Robert B. Crain sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total value of $1,076,700.00. Following the completion of the sale, the senior vice president now owns 89,322 shares in the company, valued at approximately $6,411,533.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,750 shares of company stock worth $1,921,390. Corporate insiders own 16.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc boosted its position in AGCO Corporation by 2.5% in the second quarter. Legal & General Group Plc now owns 146,907 shares of the industrial products company’s stock valued at $9,900,000 after buying an additional 3,540 shares during the last quarter. Engineers Gate Manager LP boosted its position in AGCO Corporation by 465.4% in the second quarter. Engineers Gate Manager LP now owns 21,484 shares of the industrial products company’s stock valued at $1,448,000 after buying an additional 17,684 shares during the last quarter. TD Asset Management Inc. boosted its position in AGCO Corporation by 69.2% in the second quarter. TD Asset Management Inc. now owns 251,701 shares of the industrial products company’s stock valued at $16,962,000 after buying an additional 102,965 shares during the last quarter. Dai Ichi Life Insurance Company Ltd boosted its position in AGCO Corporation by 8.6% in the second quarter. Dai Ichi Life Insurance Company Ltd now owns 34,046 shares of the industrial products company’s stock valued at $2,294,000 after buying an additional 2,700 shares during the last quarter. Finally, Clinton Group Inc. purchased a new stake in AGCO Corporation in the second quarter valued at approximately $875,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

AGCO Corporation Company Profile

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.

Analyst Recommendations for AGCO Corporation (NYSE:AGCO)

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