Ag Growth International (TSE:AFN) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Ag Growth International Inc. (TSE:AFN)’s share price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$10.69 and traded as high as C$11.00. Ag Growth International shares last traded at C$10.77, with a volume of 682,832 shares traded.

Analysts Set New Price Targets

AFN has been the topic of a number of research reports. Desjardins dropped their target price on shares of Ag Growth International from C$25.00 to C$20.00 and set a “buy” rating on the stock in a report on Friday, July 31st. ATB Cormark Capital Markets decreased their price target on shares of Ag Growth International from C$18.00 to C$11.00 and set a “sector perform” rating for the company in a report on Thursday, October 1st. National Bank Financial decreased their price target on shares of Ag Growth International from C$19.00 to C$11.00 and set a “sector perform” rating for the company in a report on Thursday, October 15th. TD Securities downgraded shares of Ag Growth International from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Finally, Royal Bank Of Canada dropped their price objective on shares of Ag Growth International from C$30.00 to C$20.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Ag Growth International presently has a consensus rating of “Hold” and a consensus target price of C$21.89.

Ag Growth International Price Performance

The company has a market capitalization of C$175.58 million, a P/E ratio of -1.49, a P/E/G ratio of 1.30 and a beta of 1.56. The business’s 50-day simple moving average is C$10.54 and its 200 day simple moving average is C$19.33. The company has a current ratio of 1.30, a quick ratio of 0.84 and a debt-to-equity ratio of 541.43.

Ag Growth International (TSE:AFN) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C($2.06) earnings per share for the quarter. Ag Growth International had a negative net margin of 8.43% and a negative return on equity of 48.31%. The firm had revenue of C$323.18 million during the quarter. As a group, sell-side analysts anticipate that Ag Growth International Inc. will post 6.58 EPS for the current year.

Ag Growth International Company Profile

Ag Growth International Inc is a leading manufacturer and supplier of equipment and solutions for the agriculture, fertilizer, feed, food and commercial sectors. With manufacturing facilities and operations on six continents, AGI provides complete systems and services that support producers and processors throughout the agricultural value chain.