AGCO Corporation (NYSE:AGCO) Receives “Buy” Rating from Deutsche Bank AG

Deutsche Bank AG reiterated their buy rating on shares of AGCO Corporation (NYSE:AGCO) in a research note issued to investors on Monday, October 9th. They currently have a $86.00 price target on the industrial products company’s stock, down from their previous price target of $90.00.

A number of other brokerages have also recently commented on AGCO. Piper Jaffray Companies set a $66.00 price objective on AGCO Corporation and gave the company a hold rating in a report on Wednesday, August 9th. UBS AG raised AGCO Corporation from a sell rating to a neutral rating and boosted their price objective for the company from $52.00 to $68.00 in a report on Wednesday, June 21st. TheStreet raised AGCO Corporation from a c+ rating to a b+ rating in a report on Thursday, July 27th. BidaskClub raised AGCO Corporation from a hold rating to a buy rating in a report on Tuesday, June 13th. Finally, Bank of America Corporation raised AGCO Corporation from an underperform rating to a neutral rating in a report on Monday, June 19th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. AGCO Corporation has a consensus rating of Hold and a consensus target price of $68.36.

AGCO Corporation (NYSE AGCO) traded up 0.24% on Monday, hitting $71.75. 731,225 shares of the stock were exchanged. The firm has a market cap of $5.71 billion, a PE ratio of 31.37 and a beta of 0.86. AGCO Corporation has a 52-week low of $48.93 and a 52-week high of $75.58. The company has a 50-day moving average price of $71.50 and a 200-day moving average price of $67.45.

AGCO Corporation (NYSE:AGCO) last announced its earnings results on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.11. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the business earned $1.25 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities research analysts anticipate that AGCO Corporation will post $3.05 EPS for the current fiscal year.

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In other AGCO Corporation news, SVP Robert B. Crain sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $71.78, for a total transaction of $1,076,700.00. Following the transaction, the senior vice president now directly owns 89,322 shares in the company, valued at $6,411,533.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lucinda B. Smith sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $73.00, for a total value of $73,000.00. Following the transaction, the senior vice president now owns 38,877 shares in the company, valued at $2,838,021. The disclosure for this sale can be found here. Insiders sold 26,750 shares of company stock worth $1,921,390 over the last quarter. 16.60% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc raised its stake in shares of AGCO Corporation by 2.5% in the second quarter. Legal & General Group Plc now owns 146,907 shares of the industrial products company’s stock valued at $9,900,000 after acquiring an additional 3,540 shares in the last quarter. TD Asset Management Inc. raised its stake in shares of AGCO Corporation by 69.2% in the second quarter. TD Asset Management Inc. now owns 251,701 shares of the industrial products company’s stock valued at $16,962,000 after acquiring an additional 102,965 shares in the last quarter. Engineers Gate Manager LP raised its stake in shares of AGCO Corporation by 465.4% in the second quarter. Engineers Gate Manager LP now owns 21,484 shares of the industrial products company’s stock valued at $1,448,000 after acquiring an additional 17,684 shares in the last quarter. Dai Ichi Life Insurance Company Ltd raised its stake in shares of AGCO Corporation by 8.6% in the second quarter. Dai Ichi Life Insurance Company Ltd now owns 34,046 shares of the industrial products company’s stock valued at $2,294,000 after acquiring an additional 2,700 shares in the last quarter. Finally, AGF Investments America Inc. raised its stake in shares of AGCO Corporation by 3.6% in the second quarter. AGF Investments America Inc. now owns 48,515 shares of the industrial products company’s stock valued at $3,269,000 after acquiring an additional 1,697 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

About AGCO Corporation

AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.

Analyst Recommendations for AGCO Corporation (NYSE:AGCO)

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