Will Today’s Deutsche Bank Upgrade Ultimately Help The Stock Price of AGCO Corp (NYSE:AGCO)?

Share

AGCO Corp (NYSE:AGCO) Stock Upgrade

Deutsche Bank has lifted shares of AGCO Corp (NYSE:AGCO) to a Hold in analysts note sent to clients and investors on moments ago, and has set a 12-month target PPS equal to $46.0. AGCO’s previous stock rating was a Sell.

From a total of 16 analysts covering Agco Corporation (NYSE:AGCO) stock, 1 rate it a ”Buy”, 4 a “Sell”, and 13 a ”Hold”. This means that 6% of the ratings are positive. The highest target price is $55 while the lowest target price is $35. The mean of all analyst targets is $45.56 with a 3.05% above today’s ($44.53) stock price. Agco Corporation was the topic of 14 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. Barclays Capital maintained shares on December 16 with “Equal Weight” rating. Bank of America maintained shares with “Neutral” rating and $47 target share price in a report from a September 25. Bank of America downgraded AGCO stock in a recent report from October 2 to “Underperform” rating. Finally, Piper Jaffray maintained the stock with “Neutral” rating in a report issued on an August 24.

Approximately 514,049 shares of stock traded hands. AGCO Corporation (NYSE:AGCO) has declined 12.40% since May 14, 2015 and is downtrending. It has underperformed by 10.13% the S&P500.

The overall sentiment of institutions has decreased to 0.68 in Q2 2015. Its down 0.11, from 0.79 in 2015Q2. The ratio turned negative, as 50 institutions have sold all the shares of AGCO Corporation that they owned while 150 funds have taken shares off the table. 38 funds have purchased shares for the first time while 97 added to their positions. These institutions now hold 94.02 million shares or 12.98% more than the 83.21 million shares they owned in 2015Q2.

The Fund Blue Harbour Group L.P. currently is holding shares equating to 9.47% of its total portfolio in AGCO Corporation representing a total of 6.52 million shares. Another fund,Southernsun Asset Management Llc, is holding a total of 5.40 million shares equating to 5.56% of their holdings. Additionally, Schwerin Boyle Capital Management Inc has a 556,849 share stake in AGCO Corporation which represents 3.73% of their total portfolio. The Fund, Fairpointe Capital Llc, based out of Illinois, has also built up a stake in the stock, which represents a total of 2.94% of their total portfolio. Finally Zuckerman Investment Group Llc, a fund which is based in the state of Illinois reported a total holdings of 226,835 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 27, 2015, shareholders of AGCO Corporation have witnessed 2 insider buys, and a total of 3 selling transactions equating to a net activity of approximately $24.07 million . Srinivasan Mallika bought 247,390 shares worth approximately $11.31M. Crain Robert B sold 3,000 shares worth approximately $168,744. Collar Gary L sold 3,000 shares worth approximately $171,000. Beck Andrew H sold 3,809 shares worth approximately $209,004. The company insider Veltmaat Hans Bernd sold 7,120 shares worth $365,411.

AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The company has a market cap of $3.87 billion. 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. It has 13.98 P/E ratio. The Company’s products are marketed under various brands, including Challenger, Fendt, GSI, Massey Ferguson and Valtra.

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.”

COMMENTS: