Royal Bank of Canada Downgrades Ag Growth International (TSE:AFN) to Sector Perform

Ag Growth International (TSE:AFN - Get Free Report) was downgraded by Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a report released on Thursday,BayStreet.CA reports. They currently have a C$45.00 target price on the stock, down from their previous target price of C$75.00. Royal Bank of Canada's price target would suggest a potential upside of 19.71% from the stock's previous close.

A number of other equities analysts also recently issued reports on AFN. ATB Capital downgraded shares of Ag Growth International from an "outperform" rating to a "sector perform" rating and cut their price target for the company from C$79.00 to C$63.00 in a report on Tuesday, January 14th. Atb Cap Markets cut shares of Ag Growth International from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Raymond James decreased their price target on Ag Growth International from C$62.00 to C$52.00 in a research note on Tuesday, January 14th. TD Securities dropped their price objective on Ag Growth International from C$73.00 to C$57.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Finally, CIBC decreased their target price on Ag Growth International from C$61.00 to C$58.00 in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of C$60.38.

Ag Growth International Stock Performance

TSE:AFN traded down C$1.64 during mid-day trading on Thursday, reaching C$37.59. The stock had a trading volume of 303,695 shares, compared to its average volume of 118,684. The company has a debt-to-equity ratio of 298.35, a quick ratio of 0.84 and a current ratio of 1.49. The business has a 50 day simple moving average of C$48.29 and a 200 day simple moving average of C$51.50. Ag Growth International has a twelve month low of C$36.23 and a twelve month high of C$64.51. The firm has a market capitalization of C$716.84 million, a price-to-earnings ratio of 24.73, a PEG ratio of 1.30 and a beta of 2.29.

Ag Growth International (TSE:AFN - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported C$1.26 earnings per share for the quarter, missing analysts' consensus estimates 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 previous year, the company earned $1.62 earnings per share. On average, analysts expect 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.