Zacks Investment Research upgraded shares of Adecoagro SA (NASDAQ:AGRO) from a hold rating to a buy rating in a research note issued to investors on Monday morning, MarketBeat.com reports. The firm currently has $13.00 price objective on the stock.

According to Zacks, “Adecoagro S.A. operates as an agricultural company in South America, with operations in Argentina, Brazil and Uruguay. The Company is engaged in farming crops and other agricultural products, cattle and dairy operations, sugar, ethanol and energy production and land transformation. Adecoagro S.A. is based in Luxembourg. “

A hedge fund recently bought a new stake in Adecoagro SA stock. Manning & Napier Advisors purchased a new position in shares of Adecoagro SA (NASDAQ:AGRO) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 153,141 shares of the company’s stock, valued at approximately $1,881,000.

Other research analysts have also issued research reports about the stock. Bank of America upgraded shares of Adecoagro SA from a neutral rating to a buy rating and set a $13.00 price objective on the stock in a research note on Tuesday, December 15th. Morgan Stanley upped their price objective on shares of Adecoagro SA from $13.60 to $15.00 and gave the company an overweight rating in a research note on Monday, November 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Adecoagro SA from $12.00 to $12.50 and gave the company an overweight rating in a research note on Friday, October 16th. Six equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of Buy and an average target price of $12.90.

Shares of Adecoagro SA (NASDAQ:AGRO) traded up 1.12% during midday trading on Monday, hitting $11.69. 289,776 shares of the stock were exchanged. The firm has a market cap of $1.42 billion and a P/E ratio of 377.10. Adecoagro SA has a 12-month low of $6.71 and a 12-month high of $12.55. The stock’s 50 day moving average is $11.67 and its 200 day moving average is $9.80.

Adecoagro S.A. is a holding company. The Company, through its operating subsidiaries, primarily engaged in agricultural and agro-industrial activities. The Company has three operating segments: Farming, Sugar, Ethanol and Energy and Land Transformation. The Company’s Farming segment is further consisted of four segments: Crops, which produces a range of agricultural commodities; Rice, which produces irrigated rice; Dairy, which produces raw milk, and All Other, which consists of leasing pasture land to cattle farmers in Argentina and leasing its coffee plantation in the Rio de Janeiro farm to a third party. Its Sugar, Ethanol and Energy segment consists of cultivating sugarcane, which is processed in owned sugar mills, transformed into ethanol, sugar and electricity and marketed. Its Land Transformation segment consists of the identification and acquisition of underdeveloped and undermanaged farmland businesses and realization of value through the strategic disposition of assets.

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