AGI (NYSE:AGBK) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research cut shares of AGI (NYSE:AGBK) from a hold rating to a strong sell rating in a report issued on Thursday morning,Zacks.com reports.

Several other research analysts have also issued reports on the company. Itau BBA Securities lowered AGI from an “outperform” rating to a “market perform” rating and set a $9.00 target price for the company. in a research report on Wednesday, May 6th. Susquehanna set a $14.00 price objective on shares of AGI in a report on Friday, May 8th. Finally, Weiss Ratings began coverage on shares of AGI in a research report on Tuesday, May 12th. They set a “sell (d)” rating for the company. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, AGI presently has an average rating of “Hold” and an average target price of $15.86.

AGI Price Performance

AGI stock opened at $6.92 on Thursday. The firm has a 50 day moving average price of $7.05. The firm has a market capitalization of $1.11 billion and a P/E ratio of 22.31. AGI has a 1 year low of $6.32 and a 1 year high of $12.21.

AGI (NYSE:AGBK) last posted its earnings results on Tuesday, May 5th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.25 by $0.01. The business had revenue of $260.00 million for the quarter, compared to analyst estimates of $445.13 million.

About AGI

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil’s population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.