The stock of AGCO Corporation (NYSE:AGCO) is a huge mover today! About 905,794 shares traded hands or 41.96% up from the average. AGCO Corporation (NYSE:AGCO) has declined 5.78% since March 7, 2016 and is downtrending. It has underperformed by 13.37% the S&P500.
The move comes after 5 months positive chart setup for the $4.24 billion company. It was reported on Oct, 10 by Barchart.com. We have $72.50 PT which if reached, will make NYSE:AGCO worth $1.65 billion more.
Analysts await AGCO Corporation (NYSE:AGCO) to report earnings on October, 26. They expect $0.35 earnings per share, down 54.55% or $0.42 from last year’s $0.77 per share. AGCO’s profit will be $28.45 million for 37.26 P/E if the $0.35 EPS becomes a reality. After $1.02 actual earnings per share reported by AGCO Corporation for the previous quarter, Wall Street now forecasts -65.69% negative EPS growth.
AGCO Corporation (NYSE:AGCO) Ratings Coverage
Out of 10 analysts covering Agco Corporation (NYSE:AGCO), 0 rate it a “Buy”, 3 “Sell”, while 7 “Hold”. This means 0 are positive. Agco Corporation has been the topic of 21 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The rating was maintained by Piper Jaffray on Monday, August 24 with “Neutral”. The rating was maintained by Barclays Capital on Wednesday, December 16 with “Equal Weight”. The company was downgraded on Friday, October 2 by Bank of America. The firm earned “Neutral” rating on Friday, July 15 by Citigroup. The stock has “Sector Perform” rating given by RBC Capital Markets on Thursday, April 28. The rating was maintained by RBC Capital Markets on Wednesday, February 3 with “Sector Perform”. The stock of AGCO Corporation (NYSE:AGCO) earned “Underweight” rating by JP Morgan on Monday, June 27. Bank of America maintained it with “Neutral” rating and $47 target price in Friday, September 25 report. UBS downgraded it to “Sell” rating and $39 target price in Thursday, October 1 report. The company was initiated on Wednesday, September 7 by Deutsche Bank.
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 decreased to 0.61 in 2016 Q2. Its down 0.13, from 0.74 in 2016Q1. The ratio dived, 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.
Korea Invest accumulated 36,700 shares or 0.01% of the stock. Moreover, State Of Wisconsin Investment Board has 0.03% invested in AGCO Corporation (NYSE:AGCO) for 143,789 shares. First Trust Advsrs L P accumulated 0.01% or 99,345 shares. Ubs Asset Americas has 205,690 shares for 0.01% of their US portfolio. Mizuho And Ltd has invested 0.02% of its portfolio in AGCO Corporation (NYSE:AGCO). Neuberger Berman Lc last reported 9,058 shares in the company. Hilltop Holdg Incorporated has 21,231 shares for 0.32% of their US portfolio. Amg Tru Retail Bank has invested 0.04% of its portfolio in AGCO Corporation (NYSE:AGCO). Regentatlantic Cap Limited has 14,698 shares for 0.07% of their US portfolio. Agf America, a Ontario – Canada-based fund reported 45,270 shares. Qs Investors Ltd Company accumulated 0.01% or 34,606 shares. Advantus Capital, a Minnesota-based fund reported 8,590 shares. Aqr Mngmt Ltd Liability reported 1.65 million shares or 0.14% of all its holdings. The Illinois-based Northern Tru Corporation has invested 0.01% in AGCO Corporation (NYSE:AGCO). Finemark Bank And Trust holds 0% or 254 shares in its portfolio.
Insider Transactions: Since May 2, 2016, the stock had 0 insider purchases, and 4 insider sales for $915,002 net activity. 5,168 shares were sold by COLLAR GARY L, worth $263,620. 283 shares with value of $13,493 were sold by Veltmaat Hans Bernd on Tuesday, August 16. 10,628 shares were sold by RICHENHAGEN MARTIN, worth $558,374 on Monday, May 2. The insider Crain Robert B sold 1,500 shares worth $79,515.
More recent AGCO Corporation (NYSE:AGCO) news were published by: Seekingalpha.com which released: “AGCO raised at Wells Fargo” on October 10, 2016. Also Streetinsider.com published the news titled: “Deutsche Bank Starts AGCO Corporation (AGCO) at Hold” on September 06, 2016. Businesswire.com‘s news article titled: “Company Profile for AGCO Corporation” with publication date: May 06, 2016 was also an interesting one.
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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