AGCO Corporation (AGCO) is Upgraded by Piper Jaffray to Neutral

AGCO Corporation (AGCO) was Upgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Underweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Nov 28, 2016.

Many Wall Street Analysts have commented on AGCO Corporation. AGCO Corporation was Upgraded by Wells Fargo to ” Outperform” on Oct 10, 2016. Deutsche Bank Initiated AGCO Corporation on Sep 7, 2016 to “Hold”, Price Target of the shares are set at $54.

On the company’s financial health, AGCO Corporation reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $0.36. The company had revenue of $1761.60 million for the quarter, compared to analysts expectations of $1653.31 million. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS.

AGCO Corporation opened for trading at $56.01 and hit $56.54 on the upside on Friday, eventually ending the session at $56.5, with a gain of 0.61% or 0.34 points. The heightened volatility saw the trading volume jump to 4,38,605 shares. Company has a market cap of $4,535 M.

In a different news, on Nov 14, 2016, Gary L Collar (Sr. VP – General Manager, APAC) sold 2,309 shares at $53.00 per share price. According to the SEC, on Aug 23, 2016, Hans Bernd Veltmaat (Sr VP, Chief Supply Chain Off.) sold 283 shares at $47.68 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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