Why Agco (AGCO) is a Top Growth Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Why This 1 Growth Stock Should Be On Your Watchlist
For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.
Agco (AGCO)
Established in 1990, headquartered in Duluth, GA, AGCO Corporation is a leading manufacturer and distributor of agricultural equipment and related replacement parts. The company offers a full product line of farm equipment through a wide network of dealers and distributors across 140 countries. Its full range of agricultural equipment, include tractors (generated 57% of 2020 sales), combines (3%), application equipment including self-propelled sprayers (3%), hay tools and forage equipment, implements and other equipment (12%), and grain storage and protein production systems (10%). Sales of replacement parts generated around 14% of the company’s sales in 2018.
AGCO is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of A and VGM Score of A. Earnings are expected to grow 23.5% year-over-year for the current fiscal year, with sales growth of 16%.
One analyst revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.03 to $15.34 per share. AGCO also boasts an average earnings surprise of 16.4%.
Agco is also cash rich. The company has generated cash flow growth of 18.1%, and is expected to report cash flow expansion of 12.5% in 2023.
Investors should take the time to consider AGCO for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.
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AGCO Corporation (AGCO) : Free Stock Analysis Report
