AGCO Corporation (AGCO) is Downgraded by JP Morgan to Underweight

AGCO Corporation (AGCO) was Downgraded by JP Morgan to ” Underweight”. Earlier the firm had a rating of “Neutral ” on the company shares. JP Morgan advised their investors in a research report released on Jun 27, 2016.

Many Wall Street Analysts have commented on AGCO Corporation. Company shares were Reiterated by RBC Capital Mkts on Apr 28, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 52 from a previous price target of $45 .

On the company’s financial health, AGCO Corporation reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.05. The company had revenue of $1559.30 million for the quarter, compared to analysts expectations of $1470.72 million. The company’s revenue was down -8.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.43 EPS.

AGCO Corporation closed down -3.92 points or -7.50% at $48.33 with 18,75,486 shares getting traded on Friday. Post opening the session at $50.09, the shares hit an intraday low of $48.31 and an intraday high of $50.3 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on May 25, 2016, Gary L Collar (Sr. VP – General Manager, APAC) sold 5,168 shares at $51.01 per share price. According to the SEC, on May 4, 2016, Robert B Crain (Sr VP, Gen. Mgr. Americas) sold 1,500 shares at $53.01 per share price. On May 4, 2016, Martin Richenhagen (Chairman, President and CEO) sold 10,628 shares at $52.54 per share price, according to the Form-4 filing with the securities and exchange commission.

AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company 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. Its 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. The Company’s geographical segments include North America South America Europe/Africa/Middle East and Asia/Pacific. The Company’s AGCO Power engines division produces diesel engines gears and generating sets. It also offers precision farming technologies which are installed in its products and include satellite-based steering field data collection yield mapping and telemetry-based fleet management systems.

AGCO Corporation

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