AGCO Corporation (AGCO) : Traders are bullish on AGCO Corporation (AGCO) as it has outperformed the S&P 500 by a wide margin of 2.29% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.76%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.73% in the last 1 week, and is up 2.68% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
AGCO Corporation is up 0.37% in the last 3-month period. Year-to-Date the stock performance stands at 10.72%. The stock has recorded a 20-day Moving Average of 4.13% and the 50-Day Moving Average is 2.12%.
AGCO Corporation (NYSE:AGCO): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $47.24 and $46.82 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $50.10. The buying momentum continued till the end and the stock did not give up its gains. It closed at $49.85, notching a gain of 6.84% for the day. The total traded volume was 2,393,746 . The stock had closed at $46.66 on the previous day.
Also, Equity analysts at the Brokerage firm PiperJaffray downgrades its rating on AGCO Corporation (NYSE:AGCO). The rating major has initiated the coverage with underweight rating on the shares. Earlier, the shares were rated a Neutral by the brokerage firm. The rating by the firm was issued on July 25, 2016.
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems. Its products are marketed under various brands, including Challenger, Fendt, GSI, Massey Ferguson and Valtra. It also provides retail financing through its finance joint ventures with Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. The Companys geographical segments include North America, South America, Europe/Africa/Middle East and Asia/Pacific. The Companys AGCO Power engines division produces diesel engines, gears and generating sets. It also offers precision farming technologies, which are installed in its products and include satellite-based steering, field data collection, yield mapping and telemetry-based fleet management systems.