Equities researchers at StockNews.com assumed coverage on shares of Adecoagro (NYSE:AGRO – Get Rating) in a research note issued on Thursday. The brokerage set a “hold” rating on the stock.
Other equities analysts have also recently issued research reports about the stock. HSBC cut shares of Adecoagro from a “buy” rating to a “hold” rating and set a $9.75 price objective on the stock. in a research note on Monday, April 17th. Morgan Stanley cut shares of Adecoagro from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $10.00 to $9.00 in a research note on Tuesday, February 7th. Finally, JPMorgan Chase & Co. lowered Adecoagro from an “overweight” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research note on Wednesday, February 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Adecoagro presently has a consensus rating of “Hold” and an average target price of $9.55.
Adecoagro Trading Up 0.9 %
Shares of NYSE:AGRO opened at $8.72 on Thursday. The company has a 50 day moving average of $8.19 and a 200-day moving average of $8.13. The firm has a market cap of $943.42 million, a P/E ratio of 14.30 and a beta of 0.99. Adecoagro has a twelve month low of $6.95 and a twelve month high of $11.50. The company has a current ratio of 1.79, a quick ratio of 0.71 and a debt-to-equity ratio of 0.63.
Institutional Trading of Adecoagro
Several large investors have recently added to or reduced their stakes in the company. Grantham Mayo Van Otterloo & Co. LLC raised its stake in Adecoagro by 2.6% during the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 5,981,772 shares of the company’s stock valued at $48,393,000 after purchasing an additional 150,700 shares during the period. Jennison Associates LLC grew its stake in Adecoagro by 1.6% during the 1st quarter. Jennison Associates LLC now owns 5,254,667 shares of the company’s stock valued at $42,510,000 after acquiring an additional 80,954 shares in the last quarter. PGGM Investments purchased a new position in Adecoagro during the 3rd quarter valued at about $37,305,000. Bank of New York Mellon Corp grew its stake in Adecoagro by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 2,800,941 shares of the company’s stock valued at $22,660,000 after acquiring an additional 29,554 shares in the last quarter. Finally, Herr Investment Group LLC purchased a new position in Adecoagro during the 4th quarter valued at about $17,981,000. 42.88% of the stock is owned by institutional investors and hedge funds.
About Adecoagro
Adecoagro SA is a holding company, which engages in the provision of agricultural and agro-industrial products and services. It operates through the following segments: Farming, Sugar, Ethanol and Energy, Land Transformation, and Corporate. The Farming segment comprises planting, harvesting, processing and marketing of rice, production and sale of raw milk, and other dairy products.
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