Ag Growth International (TSE:AFN) Downgraded to “Sector Perform” Rating by Royal Bank of Canada

Ag Growth International (TSE:AFN) was downgraded by investment analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report issued on Thursday,BayStreet.CA reports. They currently have a C$45.00 price target on the stock, down from their prior price target of C$75.00. Royal Bank of Canada’s price target indicates a potential upside of 15.09% from the company’s current price.

Other analysts have also issued research reports about the stock. ATB Capital lowered shares of Ag Growth International from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from C$79.00 to C$63.00 in a research report on Tuesday, January 14th. CIBC cut their target price on shares of Ag Growth International from C$61.00 to C$58.00 in a research report on Thursday. Atb Cap Markets lowered shares of Ag Growth International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. TD Securities cut their target price on shares of Ag Growth International from C$73.00 to C$57.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Raymond James cut their target price on shares of Ag Growth International from C$62.00 to C$52.00 in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$60.38.

Ag Growth International Stock Performance

Shares of AFN stock traded up C$0.65 on Thursday, reaching C$39.10. The stock had a trading volume of 24,820 shares, compared to its average volume of 107,942. The firm has a market capitalization of C$745.64 million, a price-to-earnings ratio of 25.72, a P/E/G ratio of 1.30 and a beta of 2.29. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 298.35. Ag Growth International has a 12 month low of C$37.61 and a 12 month high of C$64.51. The firm’s 50-day moving average is C$48.81 and its two-hundred day moving average is C$51.74.

Ag Growth International (TSE:AFN) last released its quarterly earnings results on Tuesday, November 5th. The company reported C$1.26 earnings per share for the quarter, missing the consensus estimate of C$1.66 by C($0.40). Ag Growth International had a net margin of 2.13% and a return on equity of 10.35%. During the same quarter in the prior year, the firm earned $1.62 earnings per share. On average, research analysts expect that Ag Growth International will post 6.5761006 EPS for the current fiscal year.

Ag Growth International Company Profile

Ag Growth International Inc, together with its subsidiaries, manufactures and sells equipment for the agriculture industry in Canada, the United States, and internationally. It operates through Farm and Commercial segments. The company offers grain, bolted, hopper, and smooth wall bins; temporary storage; unloads and sweeps systems; water tanks; secondary containment systems; fuel tanks; and storage accessories, as well as mixed flow dryers; fans and heaters; aeration products; vents and exhausters; and stirring systems.