AGCO Corporation (AGCO) is Upgraded by Wells Fargo to Outperform

AGCO Corporation (AGCO) was Upgraded by Wells Fargo to ” Outperform”. Earlier the firm had a rating of “Market Perform ” on the company shares. Wells Fargo advised their investors in a research report released on Oct 10, 2016.

Many Wall Street Analysts have commented on AGCO Corporation. Deutsche Bank Initiated AGCO Corporation on Sep 7, 2016 to “Hold”, Price Target of the shares are set at $54.AGCO Corporation was Downgraded by Piper Jaffray to ” Underweight” on Jul 25, 2016.

On the company’s financial health, AGCO Corporation reported $1.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.33 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.92. The company had revenue of $1995.60 million for the quarter, compared to analysts expectations of $1881.83 million. The company’s revenue was down -3.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.25 EPS.

AGCO Corporation opened for trading at $50.14 and hit $50.59 on the upside on Friday, eventually ending the session at $50.2, with a gain of 0.28% or 0.14 points. The heightened volatility saw the trading volume jump to 11,83,032 shares. Company has a market cap of $4,072 M.

In a different news, on Aug 23, 2016, Hans Bernd Veltmaat (Sr VP, Chief Supply Chain Off.) sold 283 shares at $47.68 per share price. According to the SEC, on May 25, 2016, Gary L Collar (Sr. VP – General Manager, APAC) sold 5,168 shares at $51.01 per share price. On May 4, 2016, Robert B Crain (Sr VP, Gen. Mgr. Americas) sold 1,500 shares at $53.01 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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