Ag Growth International (TSE:AFN) Stock Rating Lowered by Royal Bank of Canada

Ag Growth International (TSE:AFN) was downgraded by 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 objective on the stock, down from their previous price objective of C$75.00. Royal Bank of Canada’s price objective indicates a potential upside of 15.09% from the company’s previous close.

AFN has been the subject of several other reports. ATB Capital downgraded Ag Growth International from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$79.00 to C$63.00 in a research report on Tuesday, January 14th. Raymond James cut their price objective on Ag Growth International from C$62.00 to C$52.00 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 note 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 note on Thursday. Finally, Atb Cap Markets downgraded shares of Ag Growth International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$60.38.

Ag Growth International Stock Performance

Shares of TSE:AFN traded up C$0.65 during trading on Thursday, hitting C$39.10. 24,820 shares of the company traded hands, compared to its average volume of 107,942. The stock has a market capitalization of C$745.64 million, a price-to-earnings ratio of 25.72, a PEG ratio of 1.30 and a beta of 2.29. The business’s fifty day moving average is C$48.81 and its 200-day moving average is C$51.74. Ag Growth International has a one year low of C$37.61 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.

Ag Growth International (TSE:AFN) last posted its earnings results on Tuesday, November 5th. The company reported C$1.26 EPS 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 period in the prior year, the business earned $1.62 EPS. As a group, equities analysts predict that Ag Growth International will post 6.5761006 earnings per share 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.