Adecoagro (NYSE:AGRO) Trading Down 4.8% – Here’s What Happened
by Teresa Graham · The Cerbat GemAdecoagro S.A. (NYSE:AGRO – Get Free Report) shares dropped 4.8% during mid-day trading on Wednesday . The stock traded as low as $12.76 and last traded at $12.9140. Approximately 249,124 shares changed hands during trading, a decline of 80% from the average daily volume of 1,228,508 shares. The stock had previously closed at $13.56.
Analyst Ratings Changes
AGRO has been the topic of several analyst reports. Zacks Research lowered Adecoagro from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. UBS Group raised Adecoagro from a “neutral” rating to a “buy” rating and increased their target price for the stock from $8.00 to $16.20 in a report on Monday, March 30th. Bank of America raised Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 target price on the stock in a report on Friday, January 9th. Wall Street Zen raised Adecoagro from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Finally, Citigroup lowered Adecoagro from a “buy” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research note on Tuesday. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.53.
Adecoagro Price Performance
The stock has a market cap of $1.33 billion, a P/E ratio of -165.92, a PEG ratio of 0.29 and a beta of 0.08. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.38 and a quick ratio of 0.82. The business’s fifty day moving average price is $11.41 and its 200 day moving average price is $9.22.
Adecoagro (NYSE:AGRO – Get Free Report) last posted its earnings results on Saturday, February 14th. The company reported ($0.15) EPS for the quarter. The company had revenue of $432.91 million during the quarter. Adecoagro had a negative return on equity of 1.17% and a negative net margin of 0.55%. Sell-side analysts forecast that Adecoagro S.A. will post 1.24 EPS for the current fiscal year.
Insider Activity at Adecoagro
In other news, CEO Mariano Bosch sold 100,000 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $14.50, for a total value of $1,450,000.00. Following the completion of the transaction, the chief executive officer owned 897,249 shares of the company’s stock, valued at approximately $13,010,110.50. This represents a 10.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Hedge Funds Weigh In On Adecoagro
Several large investors have recently bought and sold shares of AGRO. Goldman Sachs Group Inc. raised its position in Adecoagro by 48.4% in the first quarter. Goldman Sachs Group Inc. now owns 86,739 shares of the company’s stock valued at $969,000 after purchasing an additional 28,275 shares during the last quarter. Jane Street Group LLC raised its position in Adecoagro by 20.5% in the first quarter. Jane Street Group LLC now owns 189,055 shares of the company’s stock valued at $2,112,000 after purchasing an additional 32,169 shares during the last quarter. Invesco Ltd. raised its position in Adecoagro by 86.5% in the second quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock valued at $4,192,000 after purchasing an additional 212,685 shares during the last quarter. Ameriprise Financial Inc. raised its position in Adecoagro by 32.3% in the second quarter. Ameriprise Financial Inc. now owns 370,391 shares of the company’s stock valued at $3,385,000 after purchasing an additional 90,518 shares during the last quarter. Finally, Engineers Gate Manager LP raised its position in Adecoagro by 115.7% in the second quarter. Engineers Gate Manager LP now owns 191,927 shares of the company’s stock valued at $1,754,000 after purchasing an additional 102,955 shares during the last quarter. 45.25% of the stock is currently owned by institutional investors.
Adecoagro Company Profile
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.