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AGCO Wins Equipment Purchasing Deal from State of Michigan
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AGCO Corporation (AGCO - Free Report) declared that it has been awarded a multi-year, statewide contract by the State of Michigan Department of Technology, Management & Budget. Through the deal, all eligible agencies will be able to buy AGCO’s Massey Ferguson tractors and implements through a pre-negotiated contract, effective immediately.
This contract will expand AGCO’s products and services offerings. On the other hand, the agreement provides the state agencies of Michigan competitive pricing on the entire portfolio of AGCO’s Massey Ferguson tractors and implements, sold, serviced and supported by Massey Ferguson dealers within Michigan.
Moreover, state agencies, local government entities, private non-profit institutions of higher education, and other authorized political subdivisions can purchase equipment such as tractors, mowers, box blades and other attachments, using Term Schedule Contract 071B7700094 now, through Jan 12, 2021.
AGCO remains focused on cost and expense reduction. In addition, the company will continue to make long-term investment to raise efficiency of factories, improve service levels and strengthen product offering.
However, AGCO underperformed the Zacks categorized Machinery Farm industry over the past one year, mainly owing to soft industry demand for farm equipment. The company’s shares gained around 16.4% during this period, compared with roughly 31.2% gain recorded by the industry.
Deere has a positive average earnings surprise of 60.50% for the last four quarters. Casella Waste generated a remarkable positive average earnings surprise of 165.21% over the trailing four quarters. ACCO Brands has delivered an average positive earnings surprise of 24.74% in the past four quarters.
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AGCO Wins Equipment Purchasing Deal from State of Michigan
AGCO Corporation (AGCO - Free Report) declared that it has been awarded a multi-year, statewide contract by the State of Michigan Department of Technology, Management & Budget. Through the deal, all eligible agencies will be able to buy AGCO’s Massey Ferguson tractors and implements through a pre-negotiated contract, effective immediately.
This contract will expand AGCO’s products and services offerings. On the other hand, the agreement provides the state agencies of Michigan competitive pricing on the entire portfolio of AGCO’s Massey Ferguson tractors and implements, sold, serviced and supported by Massey Ferguson dealers within Michigan.
Moreover, state agencies, local government entities, private non-profit institutions of higher education, and other authorized political subdivisions can purchase equipment such as tractors, mowers, box blades and other attachments, using Term Schedule Contract 071B7700094 now, through Jan 12, 2021.
AGCO Corporation Price
AGCO Corporation Price | AGCO Corporation Quote
AGCO remains focused on cost and expense reduction. In addition, the company will continue to make long-term investment to raise efficiency of factories, improve service levels and strengthen product offering.
However, AGCO underperformed the Zacks categorized Machinery Farm industry over the past one year, mainly owing to soft industry demand for farm equipment. The company’s shares gained around 16.4% during this period, compared with roughly 31.2% gain recorded by the industry.
AGCO currently carries a Zacks Rank #3 (Hold).
Key Picks
Better-ranked stocks in the same space include Deere & Company (DE - Free Report) , Casella Waste Systems, Inc. (CWST - Free Report) and ACCO Brands Corporation (ACCO - Free Report) . All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Deere has a positive average earnings surprise of 60.50% for the last four quarters. Casella Waste generated a remarkable positive average earnings surprise of 165.21% over the trailing four quarters. ACCO Brands has delivered an average positive earnings surprise of 24.74% in the past four quarters.
8 Stocks with Huge Profit Potential
Just released: Driverless Cars: Your Roadmap to Mega-Profits Today. In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>