AGCO (NYSE:AGCO) Price Target Raised to $128.00

AGCO (NYSE:AGCO - Get Free Report) had its price objective lifted by analysts at Oppenheimer from $123.00 to $128.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the industrial products company's stock. Oppenheimer's target price indicates a potential upside of 22.49% from the stock's current price.

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A number of other equities research analysts have also recently commented on the stock. UBS Group reissued a "neutral" rating and set a $119.00 target price (up previously from $100.00) on shares of AGCO in a research report on Friday, August 8th. Truist Financial reaffirmed a "buy" rating and set a $123.00 price target (down from $142.00) on shares of AGCO in a research report on Monday, November 3rd. Citigroup decreased their price objective on AGCO from $120.00 to $115.00 and set a "neutral" rating for the company in a report on Monday, November 3rd. Barclays boosted their target price on AGCO from $110.00 to $116.00 and gave the stock an "equal weight" rating in a research note on Monday, October 20th. Finally, JPMorgan Chase & Co. upped their target price on AGCO from $135.00 to $136.00 and gave the company an "overweight" rating in a research report on Tuesday, October 14th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $114.20.

View Our Latest Analysis on AGCO

AGCO Stock Up 0.2%

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Shares of AGCO traded up $0.24 during trading hours on Wednesday, hitting $104.50. The company had a trading volume of 131,624 shares, compared to its average volume of 828,691. The company has a current ratio of 1.58, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $7.80 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.70 and a beta of 1.18. AGCO has a one year low of $73.79 and a one year high of $121.16. The company's fifty day moving average price is $106.67 and its two-hundred day moving average price is $107.27.

AGCO (NYSE:AGCO - Get Free Report) last posted its earnings results on Friday, October 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.09. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.48 billion. AGCO had a return on equity of 9.36% and a net margin of 3.73%.The firm's quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. As a group, equities analysts forecast that AGCO will post 4.2 earnings per share for the current fiscal year.

Insider Buying and Selling

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In other news, SVP Kelvin Eugene Bennett sold 250 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $104.28, for a total value of $26,070.00. Following the transaction, the senior vice president directly owned 17,130 shares of the company's stock, valued at approximately $1,786,316.40. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.90% of the company's stock.

Institutional Investors Weigh In On AGCO

A number of large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in AGCO by 78.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,955,740 shares of the industrial products company's stock worth $201,755,000 after buying an additional 861,377 shares during the period. Norges Bank acquired a new stake in AGCO during the 2nd quarter valued at approximately $78,651,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of AGCO by 32.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,840,125 shares of the industrial products company's stock valued at $304,092,000 after acquiring an additional 700,558 shares during the last quarter. Ninety One UK Ltd purchased a new position in shares of AGCO during the third quarter worth $69,996,000. Finally, Capital World Investors lifted its position in AGCO by 1,206.8% during the third quarter. Capital World Investors now owns 587,608 shares of the industrial products company's stock valued at $62,915,000 after purchasing an additional 542,642 shares during the period. Hedge funds and other institutional investors 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.

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