AGCO Corp Shares Up 42% In A Year: What's Driving The Rally?
Zacks Investment Research | Jan 01, 2020 08:08PM ET
Shares of AGCO Corporation (NYSE:AGCO) have surged 42.1% over the past year, aided by its forecast-topping earnings performance in third-quarter 2019, and an encouraging outlook. The company is likely to benefit from margin improvement, focus on strategic investments and capital-allocation plan.
AGCO, a Zacks Rank #3 (Hold) stock, has a market cap of roughly $5.83 billion and average volume of shares traded in the last three months was around 441K. The company has an expected long-term earnings per share growth rate of 12.8% — higher than the industry average of 8%.
The company outpaced the Zacks Consensus Estimate in all of the trailing four quarters, the average positive earnings surprise being 32.7%. The stock’s 42.1% rise over the past year has outperformed the Zacks Investment Research
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