AGI (NYSE:AGBK) Reaches New 52-Week Low – Time to Sell?

AGI Inc (NYSE:AGBK)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $7.51 and last traded at $7.6970, with a volume of 1498946 shares. The stock had previously closed at $8.23.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wall Street Zen raised AGI to a “hold” rating in a research report on Saturday, February 21st. Citigroup began coverage on AGI in a report on Monday, March 9th. They issued a “buy” rating and a $18.00 price objective for the company. HSBC began coverage on shares of AGI in a research note on Thursday, March 5th. They issued a “buy” rating and a $15.00 price objective for the company. Susquehanna initiated coverage on shares of AGI in a research report on Monday, March 9th. They set a “positive” rating and a $17.00 target price on the stock. Finally, Oppenheimer initiated coverage on shares of AGI in a report on Monday, March 9th. They set an “outperform” rating and a $15.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, AGI has an average rating of “Moderate Buy” and an average target price of $17.14.

AGI Stock Down 4.9%

AGI (NYSE:AGBK) last issued its quarterly earnings results on Monday, March 23rd. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.22). The firm had revenue of $547.80 million during the quarter, compared to analyst estimates of $541.66 million.

About AGI

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil’s population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.