Ag Growth International (TSE:AFN) Trading Down 32.6% Following Analyst Downgrade

Shares of Ag Growth International Inc. (TSE:AFN) traded down 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. 633,807 shares were traded during trading, an increase of 380% from the average session volume of 132,155 shares. The stock had previously closed at C$25.16.

AFN has been the subject of a number of other reports. Desjardins decreased their price target on Ag Growth International from C$47.00 to C$40.00 and set a “buy” rating for the company in a research note on Monday, January 12th. ATB Cormark Capital Markets set a C$36.00 price objective on Ag Growth International and gave the company an “outperform” rating in a report on Wednesday. Royal Bank Of Canada raised their target price on 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. Cormark set a C$35.00 price target on shares of Ag Growth International and gave the stock a “hold” rating in a research report on Monday, January 12th. Finally, National Bank Financial 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$39.00 to C$24.00 in a report on Wednesday. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$33.63.

Ag Growth International Trading Down 32.0%

The company has a debt-to-equity ratio of 307.12, a current ratio of 1.70 and a quick ratio of 0.84. The company has a fifty day moving average of C$28.20 and a 200-day moving average of C$29.24. The firm has a market capitalization of C$321.63 million, a PE ratio of -35.63, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52.

Ag Growth International (TSE:AFN) last announced its quarterly earnings results on Wednesday, March 25th. The company reported C($2.62) earnings per share (EPS) for the quarter. The firm had revenue of C$395.77 million for the quarter. Ag Growth International had a negative net margin of 0.66% and a negative return on equity of 3.11%. On average, sell-side analysts anticipate that Ag Growth International Inc. will post 6.5761006 earnings per share for the current fiscal 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.