AGCO (NYSE:AGCO) Reaches New 12-Month Low Following Analyst Downgrade

AGCO Co. (NYSE:AGCO)’s share price hit a new 52-week low during mid-day trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $130.00 to $115.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. AGCO traded as low as $92.33 and last traded at $92.57, with a volume of 177899 shares changing hands. The stock had previously closed at $94.42.

Several other equities analysts have also issued reports on the company. Raymond James started coverage on AGCO in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Oppenheimer lowered their price target on shares of AGCO from $133.00 to $132.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. The Goldman Sachs Group cut their price target on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. UBS Group lowered their price objective on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Robert W. Baird reduced their price objective on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $121.20.

Institutional Trading of AGCO

Several institutional investors and hedge funds have recently modified their holdings of AGCO. Rakuten Securities Inc. purchased a new position in shares of AGCO in the fourth quarter worth $26,000. FinTrust Capital Advisors LLC grew its holdings in shares of AGCO by 121.9% in the first quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 117 shares in the last quarter. Manchester Capital Management LLC increased its position in AGCO by 93.2% in the first 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 last quarter. LRI Investments LLC bought a new position in AGCO during the first quarter valued at $30,000. Finally, Allworth Financial LP lifted its position in AGCO by 72.3% during the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 120 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors.

AGCO Stock Down 2.2 %

The business’s 50 day simple moving average is $100.90 and its 200 day simple moving average is $110.88. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $6.89 billion, a PE ratio of 6.39, a PEG ratio of 0.90 and a beta of 1.27.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share for the quarter, missing the consensus estimate of $2.90 by ($0.37). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the previous year, the company posted $4.29 EPS. The business’s quarterly revenue was down 15.1% on a year-over-year basis. On average, equities research analysts forecast that AGCO Co. will post 8 earnings per share for the current year.

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Thursday, August 15th. AGCO’s payout ratio is currently 7.85%.

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.