Adecoagro (NYSE:AGRO) Reaches New 12-Month High After Analyst Upgrade

Adecoagro S.A. (NYSE:AGRO)’s share price hit a new 52-week high during trading on Tuesday after Morgan Stanley upgraded the stock from an underweight rating to an equal weight rating. Morgan Stanley now has a $13.00 price target on the stock, up from their previous price target of $9.50. Adecoagro traded as high as $12.38 and last traded at $12.1960, with a volume of 1546313 shares traded. The stock had previously closed at $10.90.

Several other research analysts also recently commented on the stock. Citigroup initiated coverage on shares of Adecoagro in a research note on Monday, February 16th. They issued a “buy” rating on the stock. Zacks Research lowered shares of Adecoagro from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Weiss Ratings upgraded shares of Adecoagro from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 4th. Truist Financial set a $9.00 price objective on shares of Adecoagro in a research note on Friday, January 9th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Adecoagro in a report on Monday, December 1st. They set an “underweight” rating and a $7.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.20.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Cantor Fitzgerald L. P. bought a new stake in shares of Adecoagro during the 3rd quarter valued at about $1,082,000. Insigneo Advisory Services LLC raised its stake in Adecoagro by 166.8% in the second quarter. Insigneo Advisory Services LLC now owns 252,175 shares of the company’s stock worth $2,305,000 after buying an additional 157,655 shares in the last quarter. Sparta 24 Ltd. lifted its holdings in Adecoagro by 4.8% in the third quarter. Sparta 24 Ltd. now owns 2,200,278 shares of the company’s stock worth $17,250,000 after buying an additional 100,000 shares during the period. Pale Fire Capital SE bought a new stake in Adecoagro during the 2nd quarter valued at approximately $774,000. Finally, Vise Technologies Inc. purchased a new position in shares of Adecoagro during the 2nd quarter worth approximately $277,000. 45.25% of the stock is owned by hedge funds and other institutional investors.

Adecoagro Price Performance

The stock has a market cap of $1.22 billion, a P/E ratio of 53.09 and a beta of 0.44. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 2.80. The firm has a 50-day moving average price of $8.98 and a 200-day moving average price of $8.30.

Adecoagro (NYSE:AGRO) last issued its quarterly earnings results on Monday, March 16th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.07). The firm had revenue of $415.94 million during the quarter, compared to analysts’ expectations of $371.95 million. Adecoagro had a return on equity of 3.09% and a net margin of 1.67%. On average, analysts forecast that Adecoagro S.A. will post 1.24 earnings per share for the current fiscal year.

Adecoagro Company Profile

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.