Zacks Investment Research downgraded shares of Adecoagro (NYSE:AGRO) from a hold rating to a sell rating in a research note released on Wednesday morning.
According to Zacks, “Adecoagro S.A. operates as an agricultural company in South America, with operations in Argentina, Brazil and Uruguay. The Company is engaged in farming crops and other agricultural products, cattle and dairy operations, sugar, ethanol and energy production and land transformation. Adecoagro S.A. is based in Luxembourg. “
Separately, ValuEngine upgraded Adecoagro from a strong sell rating to a sell rating in a research note on Tuesday, October 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $10.00.
Shares of NYSE AGRO opened at $7.11 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 2.23 and a debt-to-equity ratio of 0.61. Adecoagro has a 12 month low of $6.73 and a 12 month high of $10.63. The company has a market cap of $863.15 million, a PE ratio of 88.88 and a beta of 0.69.
Adecoagro (NYSE:AGRO) last issued its earnings results on Thursday, November 15th. The company reported $0.12 EPS for the quarter. Adecoagro had a positive return on equity of 16.18% and a negative net margin of 1.88%. The company had revenue of $178.74 million during the quarter. On average, research analysts expect that Adecoagro will post 0.94 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Route One Investment Company L.P. lifted its holdings in Adecoagro by 53.4% during the 3rd quarter. Route One Investment Company L.P. now owns 8,246,625 shares of the company’s stock worth $60,613,000 after purchasing an additional 2,870,304 shares during the last quarter. Brandes Investment Partners LP lifted its holdings in Adecoagro by 76.7% during the 3rd quarter. Brandes Investment Partners LP now owns 7,712,716 shares of the company’s stock worth $56,688,000 after purchasing an additional 3,347,090 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Adecoagro by 26.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,284,753 shares of the company’s stock worth $9,443,000 after purchasing an additional 271,546 shares during the last quarter. CLARET ASSET MANAGEMENT Corp lifted its holdings in Adecoagro by 3.0% during the 3rd quarter. CLARET ASSET MANAGEMENT Corp now owns 444,880 shares of the company’s stock worth $3,270,000 after purchasing an additional 12,895 shares during the last quarter. Finally, Serengeti Asset Management LP acquired a new stake in Adecoagro during the 3rd quarter worth approximately $2,940,000. 41.27% of the stock is owned by institutional investors and hedge funds.
Adecoagro SA, an agricultural company, engages in farming crops and other agricultural products, dairy operations, sugar, ethanol and energy production, and land transformation activities in South America. The company engages in the planting, harvesting, and sale of grains, oilseeds, and fibers including wheat, corn, soybeans, cotton, sunflowers, and other; provision of grain warehousing/conditioning, handling, and drying services to third parties; and purchase and sale of crops produced by third parties.
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