Jefferies analyst Stephen Volkmann reiterated a Hold rating on Agco (NYSE: AGCO) on July 17 and set a price target of $70. The company’s shares closed yesterday at $60.43.
According to TipRanks.com, Volkmann is a 5-star analyst with an average return of 17.7% and a 69.6% success rate. Volkmann covers the Industrial Goods sector, focusing on stocks such as Illinois Tool Works, Titan International, and Parker Hannifin.
Agco has an analyst consensus of Hold, with a price target consensus of $73.
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Based on Agco’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $24.3 million. In comparison, last year the company had a net profit of $91.5 million.
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is negative on the stock.
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AGCO Corp. engages in the manufacture and distribution of agricultural equipment and related replacement parts. It offers tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
