AGCO Corporation (NYSE:AGCO) has been assigned a $66.00 target price by investment analysts at Piper Jaffray Companies in a research report issued on Wednesday. The firm currently has a “hold” rating on the industrial products company’s stock. Piper Jaffray Companies’ price target points to a potential downside of 8.92% from the company’s previous close.

A number of other brokerages have also recently commented on AGCO. Citigroup Inc. increased their price target on shares of AGCO Corporation from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, May 1st. 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. 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. UBS AG upgraded shares of AGCO Corporation from a “sell” rating to a “neutral” rating and increased their price target for the company from $52.00 to $68.00 in a research note on Wednesday, June 21st. Finally, Credit Suisse Group set a $60.00 price target on shares of AGCO Corporation and gave the company a “hold” rating in a research note on Wednesday, April 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $64.80.

AGCO Corporation (NYSE:AGCO) opened at 72.46 on Wednesday. The company has a market cap of $5.76 billion, a P/E ratio of 31.68 and a beta of 0.86. AGCO Corporation has a one year low of $46.22 and a one year high of $73.97. The company has a 50-day moving average of $69.99 and a 200 day moving average of $64.50.

AGCO Corporation (NYSE:AGCO) last announced its quarterly earnings results on Thursday, July 27th. The industrial products company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.11. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.08 billion. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.25 earnings per share. Equities research analysts predict that AGCO Corporation will post $3.05 EPS for the current year.

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In related news, SVP Lucinda B. Smith sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $73.00, for a total transaction of $73,000.00. Following the transaction, the senior vice president now directly owns 38,877 shares of the company’s stock, valued at $2,838,021. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Andrew H. Beck sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $72.18, for a total transaction of $721,800.00. Following the transaction, the chief financial officer now directly owns 142,079 shares in the company, valued at $10,255,262.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,037 shares of company stock worth $2,001,685. 16.60% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in AGCO. BlackRock Inc. raised its position in AGCO Corporation by 2,706.4% in the first quarter. BlackRock Inc. now owns 6,529,374 shares of the industrial products company’s stock worth $392,938,000 after buying an additional 6,296,716 shares in the last quarter. Vanguard Group Inc. raised its position in AGCO Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 5,646,479 shares of the industrial products company’s stock worth $339,804,000 after buying an additional 232,091 shares in the last quarter. Dimensional Fund Advisors LP raised its position in AGCO Corporation by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,791,183 shares of the industrial products company’s stock worth $167,973,000 after buying an additional 46,690 shares in the last quarter. Victory Capital Management Inc. raised its position in AGCO Corporation by 50.0% in the second quarter. Victory Capital Management Inc. now owns 2,600,116 shares of the industrial products company’s stock worth $175,222,000 after buying an additional 866,708 shares in the last quarter. Finally, AGF Investments Inc. raised its position in AGCO Corporation by 2.4% in the second quarter. AGF Investments Inc. now owns 1,379,003 shares of the industrial products company’s stock worth $92,959,000 after buying an additional 31,940 shares in the last quarter. 84.62% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for AGCO Corporation (NYSE:AGCO)

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