Adecoagro (NYSE:AGRO) Price Target Increased to $11.50 by Analysts at JPMorgan Chase & Co.

Adecoagro (NYSE:AGRO) had its target price hoisted by analysts at JPMorgan Chase & Co. from $10.00 to $11.50 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 9.52% from the stock’s previous close.

Several other research firms also recently commented on AGRO. Bank of America upgraded Adecoagro from an “underperform” rating to a “neutral” rating in a report on Tuesday, September 5th. Itau BBA Securities downgraded shares of Adecoagro from an “outperform” rating to a “market perform” rating and set a $12.00 target price for the company. in a research report on Monday, October 2nd. Morgan Stanley upgraded shares of Adecoagro from an “equal weight” rating to an “overweight” rating in a report on Monday, August 14th. Finally, StockNews.com upgraded Adecoagro from a “hold” rating to a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.56.

Adecoagro Trading Up 1.0 %

Adecoagro stock traded up $0.10 during trading hours on Friday, reaching $10.50. 74,733 shares of the company’s stock were exchanged, compared to its average volume of 538,968. The firm has a market capitalization of $1.17 billion, a PE ratio of 7.66 and a beta of 1.07. The company has a quick ratio of 0.76, a current ratio of 1.89 and a debt-to-equity ratio of 0.58. The firm’s 50 day simple moving average is $11.03 and its 200 day simple moving average is $10.25. Adecoagro has a twelve month low of $6.95 and a twelve month high of $11.98.

Adecoagro (NYSE:AGRO) last issued its earnings results on Thursday, August 17th. The company reported $0.40 earnings per share (EPS) for the quarter. Adecoagro had a net margin of 10.45% and a return on equity of 13.93%. The business had revenue of $402.87 million for the quarter. Research analysts predict that Adecoagro will post 1.04 earnings per share for the current year.

Hedge Funds Weigh In On Adecoagro

A number of large investors have recently modified their holdings of AGRO. Prelude Capital Management LLC increased its stake in shares of Adecoagro by 15.3% during the first quarter. Prelude Capital Management LLC now owns 161,496 shares of the company’s stock valued at $1,307,000 after buying an additional 21,475 shares during the period. Bank of New York Mellon Corp increased its position in shares of Adecoagro by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 2,917,899 shares of the company’s stock valued at $27,312,000 after buying an additional 116,958 shares during the period. Helikon Investments Ltd raised its stake in Adecoagro by 13.6% in the second quarter. Helikon Investments Ltd now owns 1,869,707 shares of the company’s stock worth $17,500,000 after buying an additional 223,784 shares in the last quarter. SPX Gestao de Recursos Ltda bought a new position in Adecoagro in the second quarter worth about $1,684,000. Finally, Handelsbanken Fonder AB bought a new stake in Adecoagro during the 2nd quarter valued at approximately $132,000. 43.38% of the stock is owned by hedge funds and other institutional investors.

Adecoagro Company Profile

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.