AGCO Corporation (AGCO) Stock Rating Reaffirmed by UBS AG

AGCO Corporation (NYSE:AGCO)‘s stock had its “neutral” rating reiterated by UBS AG in a research report issued on Friday, www.benzinga.com reports.

A number of other analysts also recently issued reports on AGCO. Piper Jaffray Companies reissued a “hold” rating and issued a $66.00 target price on shares of AGCO Corporation in a research report on Thursday. BidaskClub raised AGCO Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Zacks Investment Research downgraded AGCO Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. BMO Capital Markets raised their target price on AGCO Corporation from $70.00 to $75.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 1st. Finally, Bank of America Corporation downgraded AGCO Corporation from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $74.65 to $70.00 in a research report on Friday, October 13th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. AGCO Corporation presently has an average rating of “Hold” and an average price target of $68.29.

Shares of AGCO Corporation (NYSE:AGCO) traded down 1.28% on Friday, reaching $70.82. The company’s stock had a trading volume of 851,920 shares. AGCO Corporation has a 52-week low of $48.93 and a 52-week high of $75.58. The firm’s 50 day moving average is $71.98 and its 200-day moving average is $67.75. The stock has a market cap of $5.63 billion, a P/E ratio of 30.97 and a beta of 0.86.

AGCO Corporation (NYSE:AGCO) last released its earnings results on Thursday, July 27th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.11. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the business posted $1.25 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities research analysts forecast that AGCO Corporation will post $3.06 EPS for the current year.

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In other news, SVP Hans Bernd Veltmaat sold 750 shares of AGCO Corporation stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $66.52, for a total value of $49,890.00. Following the completion of the transaction, the senior vice president now directly owns 68,552 shares in the company, valued at $4,560,079.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Robert B. Crain sold 15,000 shares of AGCO Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total value of $1,076,700.00. Following the completion of the transaction, the senior vice president now owns 89,322 shares of the company’s stock, valued at $6,411,533.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,750 shares of company stock valued at $1,921,390. 16.60% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in AGCO. BlackRock Inc. grew its position in AGCO Corporation by 2,706.4% during 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. Victory Capital Management Inc. grew its position in AGCO Corporation by 50.0% during 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. FMR LLC grew its position in AGCO Corporation by 23.6% during the second quarter. FMR LLC now owns 1,606,000 shares of the industrial products company’s stock worth $108,228,000 after buying an additional 306,505 shares in the last quarter. Vanguard Group Inc. grew its position in AGCO Corporation by 4.3% during 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. Finally, Canada Pension Plan Investment Board grew its position in AGCO Corporation by 48.1% during the second quarter. Canada Pension Plan Investment Board now owns 699,503 shares of the industrial products company’s stock worth $47,140,000 after buying an additional 227,300 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

AGCO Corporation Company Profile

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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