Adecoagro (NYSE:AGRO) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Adecoagro S.A. (NYSE:AGRO) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.60 and traded as high as $11.47. Adecoagro shares last traded at $11.2650, with a volume of 1,050,357 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AGRO. Wall Street Zen upgraded shares of Adecoagro from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Weiss Ratings raised shares of Adecoagro from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Citigroup downgraded shares of Adecoagro from a “buy” rating to a “neutral” rating and increased their price target for the stock from $13.00 to $15.00 in a research note on Tuesday, April 14th. Zacks Research downgraded shares of Adecoagro from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Morgan Stanley raised shares of Adecoagro from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $9.50 to $13.00 in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Adecoagro currently has a consensus rating of “Hold” and a consensus price target of $11.53.

Adecoagro Stock Performance

The stock’s 50 day moving average price is $13.25 and its 200 day moving average price is $10.65. The company has a current ratio of 1.74, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80. The firm has a market cap of $1.67 billion, a PE ratio of 584.49 and a beta of -0.08.

Adecoagro (NYSE:AGRO) last issued its earnings results on Monday, May 11th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.49). Adecoagro had a net margin of 0.95% and a negative return on equity of 2.38%. The business had revenue of $419.45 million during the quarter, compared to analysts’ expectations of $408.94 million. As a group, equities analysts forecast that Adecoagro S.A. will post 1.45 earnings per share for the current fiscal year.

Adecoagro Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, May 4th were paid a dividend of $0.1213 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a yield of 160.0%. Adecoagro’s payout ratio is 1,200.00%.

Insider Transactions at Adecoagro

In related news, CEO Mariano Bosch sold 100,000 shares of Adecoagro stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the sale, the chief executive officer owned 897,249 shares of the company’s stock, valued at $13,010,110.50. The trade was a 10.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 106,815 shares of company stock worth $1,540,799. Insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Adecoagro

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGRO. Goldman Sachs Group Inc. increased its stake in Adecoagro by 48.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 86,739 shares of the company’s stock worth $969,000 after buying an additional 28,275 shares during the period. Jane Street Group LLC increased its stake in Adecoagro by 20.5% during the 1st quarter. Jane Street Group LLC now owns 189,055 shares of the company’s stock worth $2,112,000 after buying an additional 32,169 shares during the period. Invesco Ltd. increased its stake in Adecoagro by 86.5% during the 2nd quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock worth $4,192,000 after buying an additional 212,685 shares during the period. Ameriprise Financial Inc. increased its stake in Adecoagro by 32.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 370,391 shares of the company’s stock worth $3,385,000 after buying an additional 90,518 shares during the period. Finally, Engineers Gate Manager LP increased its stake in Adecoagro by 115.7% during the 2nd quarter. Engineers Gate Manager LP now owns 191,927 shares of the company’s stock worth $1,754,000 after buying an additional 102,955 shares during the period. Hedge funds and other institutional investors own 45.25% of the company’s stock.

About Adecoagro

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.