[InvestoPedia] Syngenta AG (ADR) (NYSE:SYT)(TREND ANALYSIS) Europe-based agribusiness major Syngenta (NYSE: SYT) will soon have a new CEO. The transition begs the question of whether the industry leader, Monsanto (NYSE: MON), will revive its abandoned takeover play for the company.
Syngenta announced on Wednesday that current chief executive Mike Mack will step down from his position at the end of this month. He will be replaced on an interim basis by CFO John Ramsay.
Mack has been a lightning rod for criticism from certain Syngenta shareholders following the ultimately unsuccessful buyout offers from Monsanto to acquire the company. Its latest bid equated to around $47 billion, which was rejected in no uncertain terms by Mack and Syngenta’s board.
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Syngenta AG (ADR) (NYSE:SYT) stock is currently trading 29.58% below its 52-week-high, 13.95% above its 52-week-low. The 1-year stock price history is in the range of $60.66 – $98.15. Syngenta AG (ADR) (SYT) has a price to earnings ratio of 21.95 versus Basic Materials sector average of 17.29. SYT stock price has outperformed the S&P 500 by 11.7%. The Agricultural Chemicals company is currently valued at $31.75 billion and its share price closed the last trading session at $69.12. The stock has a 50-day moving average of $66.28 and a 200-day moving average of $77.
Syngenta AG (ADR) (SYT) current short interest stands at 1.01 million shares. It has decreased by 89% from the same period of last month. Around 1% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.4 million shares, the number of days required to cover the short positions stand at 2.6 days.
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There are currently twenty analysts that cover Syngenta AG (ADR) stock. Of those twenty, eight have a Buy rating, eleven have a Hold rating and one has a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $72.87.
A recent analyst activity consisted of Bernstein upgrading their rating to Outperform on September 11. On the date of report, the stock closed at $69.48.
Bank of America upgraded their Not Rated rating to Neutral on August 27. On the date of report, the stock closed at $68.41.
Another research firm was Vontobel who upgraded their Hold rating to Buy on June 4. On the date of report, the stock closed at $89.59.
Syngenta AG produces crop protection products and seeds. The Company produces herbicides, insecticides and fungicides, and seeds for field crops, vegetables, and flowers.