Agco Corp. (AGCO) Upgraded at Piper Jaffray Cos.
Piper Jaffray Cos. upgraded shares of Agco Corp. (NYSE:AGCO) from an underweight rating to a neutral rating in a research report report published on Monday morning. They currently have $53.00 target price on the stock, up from their previous target price of $39.00.
A number of other research analysts have also weighed in on AGCO. Morgan Stanley set a $54.00 price objective on shares of Agco Corp. and gave the company a hold rating in a research note on Friday, August 5th. Jefferies Group reiterated a buy rating on shares of Agco Corp. in a research note on Friday, August 5th. Credit Suisse Group AG reiterated a hold rating and issued a $53.00 price objective on shares of Agco Corp. in a research note on Tuesday, August 30th. Deutsche Bank AG began coverage on shares of Agco Corp. in a research note on Tuesday, September 6th. They issued a hold rating and a $54.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of Agco Corp. from a hold rating to a sell rating in a report on Tuesday, October 4th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $49.75.
Shares of Agco Corp. (NYSE:AGCO) opened at 55.80 on Monday. The company has a market cap of $4.48 billion, a PE ratio of 28.79 and a beta of 1.04. Agco Corp. has a 1-year low of $42.40 and a 1-year high of $56.99. The firm’s 50 day moving average is $52.19 and its 200-day moving average is $49.99.
Agco Corp. (NYSE:AGCO) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.15. Agco Corp. had a net margin of 2.20% and a return on equity of 6.85%. The business earned $1.80 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business earned $0.77 EPS. Agco Corp.’s revenue was up 1.5% compared to the same quarter last year. Equities analysts expect that Agco Corp. will post $2.35 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 15th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, November 10th. Agco Corp.’s payout ratio is presently 26.94%.
In related news, VP Gary L. Collar sold 2,309 shares of Agco Corp. stock in a transaction on Monday, November 14th. The shares were sold at an average price of $53.00, for a total value of $122,377.00. Following the transaction, the vice president now owns 47,663 shares in the company, valued at approximately $2,526,139. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 16.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. Financial Architects Inc boosted its position in shares of Agco Corp. by 579.5% in the third quarter. Financial Architects Inc now owns 2,990 shares of the company’s stock worth $147,000 after buying an additional 2,550 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new position in Agco Corp. during the third quarter worth about $216,000. Seven Eight Capital LLC purchased a new position in Agco Corp. during the first quarter worth about $226,000. United Services Automobile Association purchased a new position in Agco Corp. during the third quarter worth about $229,000. Finally, Sii Investments Inc. WI purchased a new position in Agco Corp. during the second quarter worth about $224,000. Institutional investors own 88.53% of the company’s stock.
About Agco Corp.
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems.
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