Analysts Set AGCO Co. (AGCO) Price Target at $69.77
AGCO Co. (NYSE:AGCO) has earned an average rating of “Hold” from the twenty research firms that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $69.00.
Several research analysts have issued reports on the company. Deutsche Bank reiterated a “buy” rating on shares of AGCO in a research report on Monday. Zacks Investment Research cut AGCO from a “buy” rating to a “hold” rating in a research report on Saturday, July 14th. Jefferies Financial Group reiterated a “hold” rating and issued a $70.00 price objective on shares of AGCO in a research report on Friday, July 20th. ValuEngine cut AGCO from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Finally, OTR Global cut AGCO to a “$60.18” rating in a research report on Wednesday, July 18th.
NYSE:AGCO traded up $0.66 during trading hours on Wednesday, hitting $61.16. The company’s stock had a trading volume of 738,300 shares, compared to its average volume of 726,068. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 1.02 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.63 and a current ratio of 1.42. AGCO has a 52-week low of $56.36 and a 52-week high of $75.95.
The company also recently declared a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Wednesday, August 15th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Tuesday, August 14th. AGCO’s dividend payout ratio is currently 19.87%.
Several hedge funds have recently made changes to their positions in AGCO. Whittier Trust Co. purchased a new position in shares of AGCO in the second quarter valued at $124,000. CHICAGO TRUST Co NA purchased a new position in shares of AGCO in the first quarter valued at $207,000. Convergence Investment Partners LLC increased its position in shares of AGCO by 1,586.6% in the second quarter. Convergence Investment Partners LLC now owns 3,407 shares of the industrial products company’s stock valued at $207,000 after buying an additional 3,205 shares in the last quarter. Ostrum Asset Management purchased a new position in shares of AGCO in the first quarter valued at $227,000. Finally, FDx Advisors Inc. boosted its stake in shares of AGCO by 21.7% during the second quarter. FDx Advisors Inc. now owns 5,483 shares of the industrial products company’s stock valued at $333,000 after acquiring an additional 978 shares during the last quarter. Institutional investors and hedge funds own 84.75% of the company’s stock.
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, and residential uses.
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