Oppenheimer Forecasts Strong Price Appreciation for AGCO (NYSE:AGCO) Stock

AGCO (NYSE:AGCO) had its price target lifted by investment analysts at Oppenheimer from $123.00 to $128.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s target price points to a potential upside of 22.49% from the company’s current price.

Other analysts also recently issued reports about the stock. Barclays increased their price target on shares of AGCO from $110.00 to $116.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. UBS Group reiterated a “neutral” rating and issued a $119.00 price objective (up previously from $100.00) on shares of AGCO in a research report on Friday, August 8th. Truist Financial restated a “buy” rating and set a $123.00 target price (down from $142.00) on shares of AGCO in a research report on Monday, November 3rd. Zacks Research lowered AGCO from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Finally, Wells Fargo & Company started coverage on AGCO in a report on Thursday, November 13th. They issued an “equal weight” rating and a $114.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $114.20.

AGCO Stock Performance

AGCO stock traded up $0.24 during trading on Wednesday, hitting $104.50. 131,624 shares of the company traded hands, compared to its average volume of 828,691. AGCO has a 1 year low of $73.79 and a 1 year high of $121.16. The company has a market cap of $7.80 billion, a PE ratio of 20.75, a P/E/G ratio of 1.70 and a beta of 1.18. The stock’s 50-day simple moving average is $106.67 and its 200 day simple moving average is $107.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 0.73.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Friday, October 31st. The industrial products company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.26 by $0.09. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.48 billion. AGCO had a return on equity of 9.36% and a net margin of 3.73%.The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. On average, equities analysts expect that AGCO will post 4.2 earnings per share for the current fiscal year.

Insider Transactions at AGCO

In other AGCO news, SVP Kelvin Eugene Bennett sold 250 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $104.28, for a total transaction of $26,070.00. Following the completion of the transaction, the senior vice president owned 17,130 shares of the company’s stock, valued at $1,786,316.40. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 16.90% of the company’s stock.

Institutional Trading of AGCO

Institutional investors have recently made changes to their positions in the company. Cullen Frost Bankers Inc. raised its stake in AGCO by 1,721.4% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 255 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 241 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new stake in AGCO during the 3rd quarter worth $29,000. EverSource Wealth Advisors LLC grew its holdings in shares of AGCO by 951.9% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the industrial products company’s stock worth $29,000 after buying an additional 257 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of AGCO in the first quarter valued at about $32,000. Finally, SJS Investment Consulting Inc. raised its position in shares of AGCO by 3,725.0% in the third quarter. SJS Investment Consulting Inc. now owns 306 shares of the industrial products company’s stock valued at $33,000 after buying an additional 298 shares during the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; 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, equestrian, and residential uses.