Raymond James Financial Downgrades Ag Growth International (TSE:AFN) to Market Perform

Ag Growth International (TSE:AFN) was downgraded by stock analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a report released on Wednesday,BayStreet.CA reports. They currently have a C$30.00 price objective on the stock, down from their previous price objective of C$52.00. Raymond James Financial’s price objective indicates a potential upside of 79.43% from the company’s previous close.

A number of other brokerages have also issued reports on AFN. Royal Bank Of Canada boosted their target price on shares of Ag Growth International from C$25.00 to C$30.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 13th. TD Securities set a C$41.00 price objective on shares of Ag Growth International and gave the stock a “buy” rating in a report on Tuesday, January 13th. National Bank Financial lowered shares of Ag Growth International from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$39.00 to C$24.00 in a research report on Wednesday. Desjardins decreased their target price on Ag Growth International from C$47.00 to C$40.00 and set a “buy” rating on the stock in a research report on Monday, January 12th. Finally, ATB Cormark Capital Markets set a C$36.00 price target on Ag Growth International and gave the company an “outperform” rating in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$33.63.

Ag Growth International Stock Performance

TSE:AFN traded down C$8.44 during mid-day trading on Wednesday, hitting C$16.72. 896,805 shares of the company’s stock traded hands, compared to its average volume of 137,687. The firm has a market capitalization of C$314.49 million, a price-to-earnings ratio of -34.83, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The firm has a 50 day moving average of C$28.20 and a two-hundred day moving average of C$29.24. The company has a current ratio of 1.70, a quick ratio of 0.84 and a debt-to-equity ratio of 307.12. Ag Growth International has a 12 month low of C$13.60 and a 12 month high of C$44.84.

Ag Growth International (TSE:AFN) last issued its quarterly earnings results on Wednesday, March 25th. The company reported C($2.62) EPS for the quarter. Ag Growth International had a negative return on equity of 3.11% and a negative net margin of 0.66%.The business had revenue of C$395.77 million during the quarter. On average, equities analysts forecast that Ag Growth International 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.