BidaskClub Downgrades AGCO Corporation (NYSE:AGCO) to Buy
BidaskClub cut shares of AGCO Corporation (NYSE:AGCO) from a strong-buy rating to a buy rating in a research report report published on Friday.
Several other equities research analysts have also recently issued reports on the company. William Blair upgraded AGCO Corporation from a market perform rating to an outperform rating in a research note on Tuesday, July 11th. UBS AG upgraded AGCO Corporation from a sell rating to a neutral rating and boosted their price target for the company from $52.00 to $68.00 in a research note on Wednesday, June 21st. Bank of America Corporation upgraded AGCO Corporation from an underperform rating to a neutral rating in a research note on Monday, June 19th. Royal Bank Of Canada reiterated a hold rating and issued a $64.00 price target on shares of AGCO Corporation in a research note on Tuesday, June 6th. Finally, Jefferies Group LLC reiterated a hold rating and issued a $61.00 price target on shares of AGCO Corporation in a research note on Wednesday, May 31st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $64.07.
AGCO Corporation (AGCO) opened at 72.14 on Friday. The firm has a market capitalization of $5.74 billion, a PE ratio of 31.54 and a beta of 0.84. The stock has a 50 day moving average price of $69.01 and a 200-day moving average price of $64.00. AGCO Corporation has a one year low of $46.22 and a one year high of $73.97.
AGCO Corporation (NYSE:AGCO) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.11. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that AGCO Corporation will post $2.94 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, August 11th. This represents a $0.56 annualized dividend and a yield of 0.78%. AGCO Corporation’s dividend payout ratio is currently 24.56%.
In other AGCO Corporation news, SVP Lucinda B. Smith sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $64.00, for a total transaction of $320,000.00. Following the completion of the transaction, the senior vice president now directly owns 40,977 shares in the company, valued at $2,622,528. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Richard Robinson Smith sold 2,037 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $63.91, for a total transaction of $130,184.67. Following the transaction, the vice president now owns 41,717 shares of the company’s stock, valued at $2,666,133.47. The disclosure for this sale can be found here. 16.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Stevens Capital Management LP bought a new position in shares of AGCO Corporation during the first quarter valued at about $3,648,000. Canada Pension Plan Investment Board increased its position in shares of AGCO Corporation by 138.0% in the first quarter. Canada Pension Plan Investment Board now owns 472,203 shares of the industrial products company’s stock valued at $28,417,000 after buying an additional 273,800 shares during the period. Capstone Asset Management Co. increased its position in shares of AGCO Corporation by 0.6% in the first quarter. Capstone Asset Management Co. now owns 8,140 shares of the industrial products company’s stock valued at $490,000 after buying an additional 50 shares during the period. Wells Fargo & Company MN increased its position in shares of AGCO Corporation by 1.6% in the first quarter. Wells Fargo & Company MN now owns 33,326 shares of the industrial products company’s stock valued at $2,006,000 after buying an additional 527 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of AGCO Corporation by 54.3% in the first quarter. BNP Paribas Arbitrage SA now owns 79,156 shares of the industrial products company’s stock valued at $4,764,000 after buying an additional 27,863 shares during the period. Institutional investors own 84.24% 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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