Oppenheimer Cuts AGCO (NYSE:AGCO) Price Target to $133.00

AGCO (NYSE:AGCOFree Report) had its price target lowered by Oppenheimer from $145.00 to $133.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

AGCO has been the subject of several other reports. JPMorgan Chase & Co. lowered their price objective on AGCO from $150.00 to $135.00 and set an overweight rating for the company in a research note on Friday, May 3rd. Truist Financial lowered their price objective on AGCO from $142.00 to $137.00 and set a buy rating for the company in a research note on Friday, May 3rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $139.83.

View Our Latest Research Report on AGCO

AGCO Price Performance

Shares of AGCO stock opened at $103.67 on Wednesday. The stock has a 50 day moving average of $112.31 and a 200 day moving average of $115.51. AGCO has a 12 month low of $100.24 and a 12 month high of $140.46. The firm has a market cap of $7.74 billion, a PE ratio of 7.01, a PEG ratio of 0.64 and a beta of 1.31. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCOGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.03. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The company’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same period last year, the company earned $3.51 EPS. On average, research analysts expect that AGCO will post 12.18 EPS for the current fiscal year.

AGCO Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were issued a $0.29 dividend. The ex-dividend date was Tuesday, May 14th. This represents a dividend yield of 1%. AGCO’s payout ratio is 7.85%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AGCO. Rakuten Securities Inc. purchased a new position in AGCO during the 4th quarter worth $26,000. FinTrust Capital Advisors LLC increased its holdings in AGCO by 121.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 117 shares during the period. Manchester Capital Management LLC increased its holdings in AGCO by 93.2% during the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 110 shares during the period. LRI Investments LLC purchased a new position in AGCO during the 1st quarter worth $30,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in AGCO during the 3rd quarter worth $35,000. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

AGCO Company Profile

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AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; 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, equestrian, and residential uses.

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Analyst Recommendations for AGCO (NYSE:AGCO)

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