AGCO (NYSE:AGCO) received a $79.00 price objective from investment analysts at Stifel Nicolaus in a report released on Wednesday, TipRanks reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price points to a potential upside of 7.95% from the company’s previous close.
AGCO has been the topic of several other research reports. OTR Global upgraded shares of AGCO to a “positive” rating in a research report on Friday, July 12th. Wells Fargo & Co cut shares of AGCO from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $90.00 to $80.00 in a research report on Wednesday, July 17th. Zacks Investment Research upgraded shares of AGCO from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Tuesday, April 16th. Morgan Stanley lifted their price objective on shares of AGCO from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. cut shares of AGCO from an “overweight” rating to a “neutral” rating and set a $77.00 price objective on the stock. in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. AGCO has an average rating of “Hold” and an average target price of $76.86.
Shares of AGCO stock traded down $0.99 on Wednesday, hitting $73.18. 614,890 shares of the company traded hands, compared to its average volume of 614,832. The firm has a market cap of $5.70 billion, a PE ratio of 18.81, a P/E/G ratio of 1.17 and a beta of 0.98. The company has a quick ratio of 0.54, a current ratio of 1.29 and a debt-to-equity ratio of 0.47. AGCO has a 52 week low of $49.50 and a 52 week high of $80.64. The company’s 50-day moving average price is $76.11.
In other AGCO news, Chairman Martin Richenhagen sold 51,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $70.43, for a total transaction of $3,591,930.00. Following the transaction, the chairman now owns 503,733 shares in the company, valued at $35,477,915.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert B. Crain sold 25,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.86, for a total transaction of $1,821,500.00. Following the transaction, the senior vice president now owns 81,914 shares in the company, valued at approximately $5,968,254.04. The disclosure for this sale can be found here. Insiders sold 172,000 shares of company stock worth $12,536,330 in the last 90 days. 17.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its holdings in shares of AGCO by 1.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 48,933 shares of the industrial products company’s stock worth $2,724,000 after purchasing an additional 642 shares during the period. FMR LLC lifted its holdings in shares of AGCO by 7.3% during the fourth quarter. FMR LLC now owns 1,060,971 shares of the industrial products company’s stock worth $59,065,000 after purchasing an additional 72,593 shares during the period. Norges Bank acquired a new position in shares of AGCO during the fourth quarter worth $32,833,000. Geode Capital Management LLC lifted its holdings in shares of AGCO by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 1,239,289 shares of the industrial products company’s stock worth $68,991,000 after purchasing an additional 45,469 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. lifted its holdings in shares of AGCO by 173.0% during the first quarter. Dalton Greiner Hartman Maher & Co. now owns 138,572 shares of the industrial products company’s stock worth $9,638,000 after purchasing an additional 87,815 shares during the period. Institutional investors and hedge funds own 80.70% of the company’s stock.
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, and residential uses.
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