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AGCO (AGCO) Falls Further As It's Water-Logged And Getting Wetter

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified AGCO ( AGCO) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified AGCO as such a stock due to the following factors:

  • AGCO has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $56.7 million.
  • AGCO has traded 607,689 shares today.
  • AGCO traded in a range 281.9% of the normal price range with a price range of $3.35.
  • AGCO traded below its daily resistance level (quality: 49 days, meaning that the stock is crossing a resistance level set by the last 49 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Water-Logged and Getting Wetter' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying negative price action. In this case, the stock crossed an important inflection point; namely, "support" while at the same time the range of the stock's movement in price is twice its normal size. This large range foreshadows a possible continuation as the stock moves lower.

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More details on AGCO:

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The stock currently has a dividend yield of 0.7%. AGCO has a PE ratio of 11.4. Currently there are 5 analysts that rate AGCO a buy, 2 analysts rate it a sell, and 5 rate it a hold.

The average volume for AGCO has been 996,200 shares per day over the past 30 days. AGCO has a market cap of $5.9 billion and is part of the industrial goods sector and industrial industry. The stock has a beta of 2.13 and a short float of 5.9% with 5.70 days to cover. Shares are up 23.8% year to date as of the close of trading on Friday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates AGCO as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, attractive valuation levels, good cash flow from operations and increase in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

Highlights from the ratings report include:

  • The revenue growth greatly exceeded the industry average of 18.8%. Since the same quarter one year prior, revenues rose by 13.3%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 35.53% over the past year, a rise that has exceeded that of the S&P 500 Index. Regarding the stock's future course, although almost any stock can fall in a broad market decline, AGCO should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the Machinery industry average, but is less than that of the S&P 500. The net income increased by 4.3% when compared to the same quarter one year prior, going from $204.90 million to $213.70 million.
  • Net operating cash flow has significantly increased by 253.52% to $326.30 million when compared to the same quarter last year. In addition, AGCO CORP has also vastly surpassed the industry average cash flow growth rate of 93.49%.

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