AGCO (NYSE:AGCO) Price Target Raised to $111.00 at JPMorgan Chase & Co.

AGCO (NYSE:AGCO) had its price target boosted by research analysts at JPMorgan Chase & Co. from $102.00 to $111.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 14.01% from the company’s current price.

A number of other equities analysts have also recently issued reports on AGCO. Oppenheimer reduced their price objective on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Morgan Stanley began coverage on AGCO in a report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 target price on the stock. Citigroup lowered their price target on AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Truist Financial lifted their price objective on shares of AGCO from $110.00 to $116.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $107.20.

AGCO Stock Performance

AGCO stock opened at $97.36 on Wednesday. The company has a 50 day moving average price of $95.09 and a 200 day moving average price of $94.87. AGCO has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. The stock has a market capitalization of $7.27 billion, a PE ratio of 43.08, a price-to-earnings-growth ratio of 0.56 and a beta of 1.25.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.40). The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.97 earnings per share. Analysts forecast that AGCO will post 7.36 EPS for the current year.

Institutional Investors Weigh In On AGCO

Several institutional investors have recently added to or reduced their stakes in AGCO. Dimensional Fund Advisors LP raised its stake in shares of AGCO by 17.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock valued at $221,187,000 after purchasing an additional 335,092 shares during the period. Pacer Advisors Inc. raised its position in AGCO by 34.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock valued at $206,525,000 after buying an additional 538,955 shares during the last quarter. State Street Corp lifted its stake in AGCO by 4.3% in the 3rd quarter. State Street Corp now owns 1,978,963 shares of the industrial products company’s stock valued at $193,661,000 after acquiring an additional 80,846 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in AGCO by 3.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock valued at $181,775,000 after acquiring an additional 66,303 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in AGCO by 53.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock worth $171,090,000 after acquiring an additional 605,509 shares during the last quarter. 78.80% of the stock is owned by institutional investors.

About AGCO

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.