AGCO Corporation (AGCO) “Is Crushing It,” Says Jim Cramer

We recently published 11 Latest AI & Other Stocks On Jim Cramer’s Radar. AGCO Corporation (NYSE:AGCO) is one of the stocks Jim Cramer recently discussed.

AGCO Corporation (NYSE:AGCO) is one of the largest agricultural machinery providers in America. Its shares have gained 24% year-to-date to outpace peer Deere’s gains. Deere’s stock lost momentum in August after the firm reduced its full-year outlook. Cramer discussed AGCO Corporation (NYSE:AGCO)’s performance and commented that the firm was sending different signals about its health when compared to Deere:

“I do think that Deere, I thought that might be a bounce back. Because we had AgCo on last night. And AgCo was being very, very positive. . .but AgCo’s not as US-centric. It is a mystery to me that Deere’s down this much given the fact that inventories don’t seem to be a problem. And given the fact that AgCo, its principle competitor, just is crushing it, crushing.”

Mila Supinskaya Glashchenko/Shutterstock.com

Previously, Cramer commented on whether AGCO Corporation (NYSE:AGCO) might have even more upside:

“What’s happening at AGCO, the big maker of agricultural equipment and precision ag technology? Quietly, over the past few months, this stock has rebounded from its April lows, and I’m wondering if it might have even more upside. When AGCO reported at the end of July, it delivered a much better-than-expected series of numbers.

Even though it’s still looking at steep year-over-year sales declines, didn’t matter. What matters is that it’s beating expectations. It delivered a 27-cent earnings beat off a dollar-o-eight ($1.08) basis while also raising its full-year forecast, which is why the stock jumped more than 10% in response. While it’s pulled back a bit since then, it’s up 55% since its April lows.”

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Disclosure: None. This article is originally published at Insider Monkey.