Ag Growth International (TSE:AFN) Lowered to “Market Perform” at Raymond James

Ag Growth International (TSE:AFN) was downgraded by equities researchers at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday, BayStreet.CA reports. They presently have a C$62.00 price target on the stock, down from their previous price target of C$72.00. Raymond James’ price target would indicate a potential upside of 28.71% from the company’s previous close.

A number of other brokerages have also recently commented on AFN. CIBC reduced their price objective on Ag Growth International from C$78.00 to C$75.00 and set an “outperform” rating for the company in a research note on Wednesday. TD Securities reduced their price target on shares of Ag Growth International from C$79.00 to C$77.00 and set a “buy” rating for the company in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Ag Growth International currently has an average rating of “Moderate Buy” and a consensus target price of C$75.67.

Ag Growth International Trading Down 3.6 %

Ag Growth International stock traded down C$1.81 during trading hours on Friday, hitting C$48.17. The stock had a trading volume of 314,193 shares, compared to its average volume of 60,261. Ag Growth International has a one year low of C$45.96 and a one year high of C$64.51. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 298.35. The stock has a market cap of C$918.60 million, a price-to-earnings ratio of 31.74, a P/E/G ratio of 1.30 and a beta of 2.29. The business’s 50 day simple moving average is C$54.08 and its 200-day simple moving average is C$53.90.

Ag Growth International (TSE:AFN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported C$1.42 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.67 by C($0.25). The business had revenue of C$351.78 million for the quarter, compared to analyst estimates of C$397.51 million. Ag Growth International had a return on equity of 10.35% and a net margin of 2.13%. On average, equities analysts predict that Ag Growth International will post 6.5761006 EPS for the current fiscal year.

About Ag Growth International

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.