Adecoagro (NYSE:AGRO) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?
by Michael Walen · The Markets DailyAdecoagro S.A. (NYSE:AGRO – Get Free Report)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.23 and traded as high as $8.96. Adecoagro shares last traded at $8.6550, with a volume of 545,970 shares.
Wall Street Analysts Forecast Growth
AGRO has been the subject of several research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Adecoagro in a research report on Wednesday, January 21st. UBS Group cut their target price on shares of Adecoagro from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Tuesday, December 2nd. Bank of America upgraded shares of Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 target price for the company in a report on Friday, January 9th. JPMorgan Chase & Co. assumed coverage on Adecoagro in a report on Monday, December 1st. They issued an “underweight” rating and a $7.00 price target on the stock. Finally, Wall Street Zen downgraded Adecoagro from a “hold” rating to a “sell” rating in a research report on Sunday, November 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Adecoagro presently has a consensus rating of “Reduce” and an average target price of $8.50.
View Our Latest Analysis on AGRO
Adecoagro Price Performance
The stock’s fifty day moving average price is $8.25 and its 200-day moving average price is $8.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.80 and a quick ratio of 1.56. The firm has a market cap of $866.28 million, a price-to-earnings ratio of 37.63 and a beta of 0.45.
Adecoagro (NYSE:AGRO – Get Free Report) last announced its earnings results on Monday, December 1st. The company reported $0.00 earnings per share (EPS) for the quarter. The company had revenue of $304.21 million for the quarter. Adecoagro had a net margin of 1.67% and a return on equity of 3.09%. Equities research analysts predict that Adecoagro S.A. will post 1.24 EPS for the current fiscal year.
Institutional Investors Weigh In On Adecoagro
Institutional investors have recently bought and sold shares of the business. Sparta 24 Ltd. acquired a new position in shares of Adecoagro in the 2nd quarter valued at about $19,197,000. PenderFund Capital Management Ltd. purchased a new position in Adecoagro during the third quarter valued at approximately $1,960,000. Invesco Ltd. increased its stake in Adecoagro by 86.5% in the 2nd quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock valued at $4,192,000 after buying an additional 212,685 shares during the period. Citadel Advisors LLC lifted its position in Adecoagro by 335.1% in the 3rd quarter. Citadel Advisors LLC now owns 237,170 shares of the company’s stock worth $1,859,000 after buying an additional 182,655 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Adecoagro by 321.3% during the 3rd quarter. Two Sigma Investments LP now owns 218,703 shares of the company’s stock valued at $1,715,000 after buying an additional 166,795 shares during the period. 45.25% of the stock is currently owned by institutional investors and hedge funds.
About Adecoagro
Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.
The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.