Adecoagro (NYSE:AGRO) Shares Gap Up – Time to Buy?

Adecoagro S.A. (NYSE:AGRO)’s share price gapped up prior to trading on Monday . The stock had previously closed at $10.16, but opened at $10.68. Adecoagro shares last traded at $10.58, with a volume of 485,176 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup assumed coverage on shares of Adecoagro in a research note on Monday, February 16th. They set a “buy” rating for the company. Wall Street Zen downgraded Adecoagro from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. JPMorgan Chase & Co. started coverage on Adecoagro in a research report on Monday, December 1st. They set an “underweight” rating and a $7.00 price target for the company. Bank of America upgraded Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price objective for the company in a report on Friday, January 9th. Finally, Weiss Ratings upgraded Adecoagro from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Adecoagro currently has a consensus rating of “Reduce” and an average target price of $8.50.

Adecoagro Price Performance

The firm has a market cap of $1.02 billion, a PE ratio of 44.28 and a beta of 0.44. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.80 and a quick ratio of 1.56. The firm has a 50-day simple moving average of $8.76 and a 200 day simple moving average of $8.24.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Orion Porfolio Solutions LLC bought a new stake in Adecoagro during the fourth quarter worth about $88,000. Quadrature Capital Ltd purchased a new stake in Adecoagro in the fourth quarter worth about $123,000. Jeppson Wealth Management LLC bought a new position in shares of Adecoagro during the third quarter valued at approximately $124,000. Virtu Financial LLC bought a new position in shares of Adecoagro during the fourth quarter valued at approximately $147,000. Finally, State of Wyoming lifted its holdings in shares of Adecoagro by 44.9% during the second quarter. State of Wyoming now owns 17,203 shares of the company’s stock valued at $157,000 after purchasing an additional 5,334 shares during the last quarter. 45.25% of the stock is owned by hedge funds and other institutional investors.

Adecoagro Company Profile

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.