Ag Growth International (TSE:AFN) Downgraded to “Hold” Rating by Royal Bank of Canada

Ag Growth International (TSE:AFN) was downgraded by research analysts at Royal Bank of Canada from a “moderate buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other brokerages have also weighed in on AFN. Raymond James decreased their target price on shares of Ag Growth International from C$62.00 to C$52.00 in a research note on Tuesday, January 14th. ATB Capital downgraded Ag Growth International from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$79.00 to C$63.00 in a report on Tuesday, January 14th. TD Securities cut their price target 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. Atb Cap Markets cut shares of Ag Growth International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, CIBC cut their target price on shares of Ag Growth International from C$72.00 to C$61.00 in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$67.25.

Ag Growth International Price Performance

TSE AFN opened at C$39.83 on Thursday. Ag Growth International has a one year low of C$38.62 and a one year high of C$64.51. The stock has a 50-day moving average of C$49.66 and a 200 day moving average of C$52.03. 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 company has a market capitalization of C$759.56 million, a price-to-earnings ratio of 26.20, a PEG ratio of 1.30 and a beta of 2.29.

Ag Growth International (TSE:AFN) last announced its quarterly earnings results on Tuesday, November 5th. The company reported C$1.26 EPS for the quarter, missing analysts’ consensus estimates of C$1.66 by C($0.40). Ag Growth International had a return on equity of 10.35% and a net margin of 2.13%. During the same quarter in the prior year, the business earned $1.62 earnings per share. On average, sell-side analysts forecast that Ag Growth International will post 6.5761006 EPS for the current 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.