Barclays Cuts AGCO (NYSE:AGCO) Price Target to $110.00

AGCO (NYSE:AGCO) had its price target decreased by Barclays from $145.00 to $110.00 in a report issued on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

AGCO has been the topic of several other reports. Oppenheimer decreased their target price on shares of AGCO from $145.00 to $133.00 and set an outperform rating on the stock in a research report on Wednesday, June 12th. Citigroup began coverage on shares of AGCO in a report on Wednesday, June 26th. They issued a neutral rating and a $108.00 price target on the stock. Truist Financial cut their price target on shares of AGCO from $142.00 to $137.00 and set a buy rating on the stock in a report on Friday, May 3rd. 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. Finally, Raymond James began coverage on shares of AGCO in a report on Friday, June 28th. They issued a market perform rating on the stock. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, AGCO has a consensus rating of Hold and a consensus price target of $126.75.

AGCO Price Performance

AGCO opened at $102.03 on Thursday. The company’s 50 day simple moving average is $102.98 and its 200 day simple moving average is $112.04. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. AGCO has a 1 year low of $92.75 and a 1 year high of $140.46. The stock has a market capitalization of $7.61 billion, a PE ratio of 6.90, a P/E/G ratio of 0.66 and a beta of 1.27.

AGCO (NYSE:AGCO) last released its earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.03. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period last year, the company earned $3.51 earnings per share. The company’s quarterly revenue was down 12.1% on a year-over-year basis. As a group, sell-side analysts expect that AGCO will post 11.54 EPS for the current year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Thursday, August 15th. AGCO’s payout ratio is currently 7.85%.

Institutional Trading of AGCO

A number of hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its holdings in AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 167 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in shares of AGCO by 5.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 2,930 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 145 shares during the last quarter. Shayne & Jacobs LLC bought a new position in shares of AGCO during the second quarter worth about $1,535,000. OFI Invest Asset Management grew its position in shares of AGCO by 1,946.2% during the second quarter. OFI Invest Asset Management now owns 2,394 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 2,277 shares during the last quarter. Finally, TCW Group Inc. bought a new position in shares of AGCO during the second quarter worth about $1,570,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

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.