The stock of AGCO Corporation (NYSE:AGCO) hit a new 52-week high and has $59.28 target or 6.00% above today’s $55.92 share price. The 9 months bullish chart indicates low risk for the $4.58B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $59.28 price target is reached, the company will be worth $274.80 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 833,185 shares traded hands. AGCO Corporation (NYSE:AGCO) has risen 3.43% since April 21, 2016 and is uptrending. It has underperformed by 1.90% the S&P500.
Analysts await AGCO Corporation (NYSE:AGCO) to report earnings on February, 7. They expect $0.72 earnings per share, down 10.00% or $0.08 from last year’s $0.8 per share. AGCO’s profit will be $58.97 million for 19.42 P/E if the $0.72 EPS becomes a reality. After $0.51 actual earnings per share reported by AGCO Corporation for the previous quarter, Wall Street now forecasts 41.18% EPS growth.
AGCO Corporation (NYSE:AGCO) Ratings Coverage
Out of 12 analysts covering Agco Corporation (NYSE:AGCO), 1 rate it a “Buy”, 3 “Sell”, while 8 “Hold”. This means 8% are positive. Agco Corporation has been the topic of 24 analyst reports since July 27, 2015 according to StockzIntelligence Inc. On Friday, September 25 the stock rating was initiated by Barclays Capital with “Equal-Weight”. Piper Jaffray maintained the stock with “Neutral” rating in Monday, August 24 report. The firm earned “Neutral” rating on Friday, September 25 by Bank of America. The stock of AGCO Corporation (NYSE:AGCO) earned “Sell” rating by UBS on Thursday, October 1. The stock of AGCO Corporation (NYSE:AGCO) has “Hold” rating given on Thursday, December 17 by Deutsche Bank. As per Wednesday, December 16, the company rating was maintained by Barclays Capital. The firm has “Equal-Weight” rating by Barclays Capital given on Wednesday, October 12. On Wednesday, December 16 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. JP Morgan downgraded it to “Underweight” rating and $44 target price in Monday, June 27 report. Deutsche Bank initiated AGCO Corporation (NYSE:AGCO) rating on Wednesday, September 7. Deutsche Bank has “Hold” rating and $54 price target.
According to Zacks Investment Research, “AGCO CORP. is engaged in the manufacturer and distribution of farm equipment, machinery and replacement parts in the United States and Canada. Products include tractors, combines, hay tools and forage equipment and implements.”
Insitutional Activity: The institutional sentiment increased to 0.87 in 2016 Q2. Its up 0.26, from 0.61 in 2016Q1. The ratio increased, as 49 funds sold all AGCO Corporation shares owned while 133 reduced positions. 20 funds bought stakes while 91 increased positions. They now own 70.87 million shares or 7.82% less from 76.88 million shares in 2016Q1.
Apg Asset Mgmt Nv last reported 814,050 shares in the company. Principal Financial Gru Inc holds 0.02% of its portfolio in AGCO Corporation (NYSE:AGCO) for 267,581 shares. Diam Ltd last reported 0% of its portfolio in the stock. Creative Planning has 0% invested in the company for 11,366 shares. Gemmer Asset Mgmt Ltd last reported 0% of its portfolio in the stock. Crestpoint Capital Limited Liability Corp reported 13,100 shares or 0.33% of all its holdings. Auxier Asset Mgmt owns 8,005 shares or 0.09% of their US portfolio. The New York-based Schafer Cullen Cap Management has invested 0% in AGCO Corporation (NYSE:AGCO). Citigroup, a New York-based fund reported 1,890 shares. The Massachusetts-based State Street Corporation has invested 0.02% in AGCO Corporation (NYSE:AGCO). Sii Invs Wi reported 4,733 shares or 0.02% of all its holdings. Mizuho Asset Mngmt Coltd, a Japan-based fund reported 874 shares. Bb&T reported 218,252 shares or 0.22% of all its holdings. Kanaly Trust Com last reported 427 shares in the company. Louisiana State Employees Retirement accumulated 18,900 shares or 0.05% of the stock.
Insider Transactions: Since August 16, 2016, the stock had 0 insider buys, and 2 selling transactions for $135,870 net activity. COLLAR GARY L also sold $122,377 worth of AGCO Corporation (NYSE:AGCO) on Monday, November 14. Shares for $13,493 were sold by Veltmaat Hans Bernd on Tuesday, August 16.
Another recent and important AGCO Corporation (NYSE:AGCO) news was published by Nasdaq.com which published an article titled: “AGCO Corporation (AGCO) Ex-Dividend Date Scheduled for November 10, 2016” on November 09, 2016.
AGCO Company Profile
AGCO Corporation, incorporated on April 22, 1991, is a maker and distributor of agricultural equipment and related replacement parts around the world. The Firm sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems. The Company’s divisions include North America, South America, Europe/Africa/Middle East, and Asia/Pacific. The Company’s Chinese harvesting business operates within the Asia/Pacific segment. The former sprayer reporting unit operates within the North American segment. The Company’s products are marketed under various brands, including Challenger, Fendt, GSI, Massey Ferguson and Valtra. It also provides retail financing through its finance joint ventures with Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A.
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