Morgan Stanley Lowers AGCO (NYSE:AGCO) Price Target to $68.00

AGCO (NYSE:AGCO) had its price objective trimmed by Morgan Stanley from $75.00 to $68.00 in a report issued on Tuesday morning, AnalystRatings.com reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

Several other equities analysts have also issued reports on the company. Stifel Nicolaus increased their target price on AGCO from $84.00 to $90.00 and gave the stock a buy rating in a research note on Monday, December 16th. Goldman Sachs Group decreased their target price on AGCO from $70.00 to $55.00 and set a neutral rating on the stock in a research note on Thursday, March 19th. ValuEngine raised AGCO from a sell rating to a hold rating in a research note on Friday, February 21st. Wells Fargo & Co decreased their target price on AGCO from $80.00 to $75.00 and set an equal weight rating on the stock in a research note on Friday, February 7th. Finally, Stephens decreased their target price on AGCO from $88.00 to $80.00 and set an overweight rating on the stock in a research note on Friday, February 7th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $80.86.

Shares of AGCO stock traded up $1.59 during trading hours on Tuesday, hitting $44.48. The company’s stock had a trading volume of 938,700 shares, compared to its average volume of 628,740. AGCO has a twelve month low of $35.33 and a twelve month high of $81.39. The firm has a fifty day moving average of $59.34 and a 200-day moving average of $71.75. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 3.42 and a beta of 1.01. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 1.29.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.61). AGCO had a net margin of 1.38% and a return on equity of 11.31%. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the company earned $1.31 EPS. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, sell-side analysts expect that AGCO will post 5.06 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 14th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, February 13th. This represents a $0.64 annualized dividend and a yield of 1.44%. AGCO’s dividend payout ratio (DPR) is 14.41%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. increased its holdings in AGCO by 5.9% during the 4th quarter. Victory Capital Management Inc. now owns 3,233,809 shares of the industrial products company’s stock worth $249,811,000 after purchasing an additional 180,919 shares during the period. Thrivent Financial for Lutherans increased its holdings in AGCO by 5.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,641,672 shares of the industrial products company’s stock worth $126,819,000 after purchasing an additional 87,873 shares during the period. Maverick Capital Ltd. increased its holdings in AGCO by 19.4% during the 4th quarter. Maverick Capital Ltd. now owns 783,615 shares of the industrial products company’s stock worth $60,534,000 after purchasing an additional 127,294 shares during the period. Norges Bank purchased a new stake in AGCO during the 4th quarter worth about $55,835,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in AGCO by 11.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 680,351 shares of the industrial products company’s stock worth $52,557,000 after purchasing an additional 68,517 shares during the period. Institutional investors own 81.45% of the company’s stock.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.

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