Ag Growth International (TSE:AFN) Shares Down 32.6% on Analyst Downgrade

Shares of Ag Growth International Inc. (TSE:AFN) dropped 32.6% on Wednesday after Raymond James Financial downgraded the stock from an outperform rating to a market perform rating. Raymond James Financial now has a C$30.00 price target on the stock, down from their previous price target of C$52.00. Ag Growth International traded as low as C$13.60 and last traded at C$16.96. Approximately 633,807 shares changed hands during mid-day trading, an increase of 380% from the average daily volume of 132,155 shares. The stock had previously closed at C$25.16.

Other analysts also recently issued reports about the company. Cormark set a C$35.00 price objective on Ag Growth International and gave the stock a “hold” rating in a research report on Monday, January 12th. TD Securities set a C$41.00 target price on Ag Growth International and gave the company a “buy” rating in a research report on Tuesday, January 13th. National Bank Financial downgraded Ag Growth International from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$39.00 to C$24.00 in a research note on Wednesday. ATB Cormark Capital Markets set a C$36.00 target price on shares of Ag Growth International and gave the stock an “outperform” rating in a report on Wednesday. Finally, Royal Bank Of Canada raised their price target on shares of Ag Growth International from C$25.00 to C$30.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 13th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Ag Growth International has a consensus rating of “Hold” and a consensus price target of C$33.63.

Ag Growth International Stock Performance

The stock has a 50 day moving average of C$27.98 and a 200 day moving average of C$29.15. The company has a market capitalization of C$317.68 million, a price-to-earnings ratio of -35.19, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The company has a quick ratio of 0.84, a current ratio of 1.70 and a debt-to-equity ratio of 307.12.

Ag Growth International (TSE:AFN) last released its earnings results on Wednesday, March 25th. The company reported C($2.62) earnings per share for the quarter. Ag Growth International had a negative net margin of 0.66% and a negative return on equity of 3.11%. The firm had revenue of C$395.77 million for the quarter. As a group, analysts predict that Ag Growth International Inc. will post 6.5761006 EPS for the current year.

Ag Growth International Company Profile

Ag Growth International Inc manufactures portable and stationary grain handling, storage, and conditioning equipment, including augers, belt conveyors, grain storage bins, grain handling accessories, grain aeration equipment, and grain drying systems. The company operates mainly in Portable handling, permanent handling, storage and conditioning, livestock, and manufacturing sectors. Some of its brands are batco, wheatheart, westfield, storm, rem, hi roller, union iron, hsi, tramco, ptm, vis, nuvision, twister, grain guard, airlanco, westeel, frame, and entringer.