AGI (NYSE:AGBK) Sets New 1-Year Low – Time to Sell?

Shares of AGI Inc (NYSE:AGBK) reached a new 52-week low during trading on Thursday . The stock traded as low as $6.21 and last traded at $6.47, with a volume of 84397 shares traded. The stock had previously closed at $6.88.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AGBK. Itau BBA Securities cut shares of AGI from an “outperform” rating to a “market perform” rating and set a $9.00 target price for the company. in a research note on Wednesday, May 6th. Weiss Ratings initiated coverage on shares of AGI in a research note on Tuesday, May 12th. They issued a “sell (d)” rating on the stock. Zacks Research downgraded shares of AGI from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Finally, Susquehanna set a $14.00 price objective on AGI in a research report on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.86.

AGI Stock Down 6.6%

The firm has a fifty day moving average of $6.99. The stock has a market capitalization of $1.03 billion and a price-to-earnings ratio of 20.81.

AGI (NYSE:AGBK) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.01. The business had revenue of $260.00 million during the quarter, compared to the consensus estimate of $445.13 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.