Ag Growth International (TSE:AFN) Downgraded by Raymond James Financial 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 research note issued on Wednesday,BayStreet.CA reports. They currently have a C$30.00 target price on the stock, down from their prior target price of C$52.00. Raymond James Financial’s price objective would indicate a potential upside of 79.43% from the company’s previous close.

Several other equities research analysts have also issued reports on AFN. Cormark set a C$35.00 price objective on shares of Ag Growth International and gave the company a “hold” rating in a research note on Monday, January 12th. ATB Cormark Capital Markets set a C$36.00 target price 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 report on Tuesday, January 13th. Desjardins reduced 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 report on Monday, January 12th. Finally, National Bank Financial downgraded Ag Growth International from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$39.00 to C$24.00 in a research note on Wednesday. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Ag Growth International has a consensus rating of “Hold” and a consensus target price of C$33.63.

Ag Growth International Stock Down 33.5%

TSE:AFN traded down C$8.44 during trading hours on Wednesday, hitting C$16.72. 896,805 shares of the stock traded hands, compared to its average volume of 137,687. The firm has a 50 day moving average price of C$28.20 and a 200 day moving average price 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 fifty-two week low of C$13.60 and a fifty-two week high of C$44.84. The firm has a market cap of C$314.49 million, a price-to-earnings ratio of -34.83, a PEG ratio of 1.30 and a beta of 0.52.

Ag Growth International (TSE:AFN) last posted 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 company had revenue of C$395.77 million for the quarter. Equities research analysts anticipate that Ag Growth International will post 6.5761006 earnings per share for the current year.

About Ag Growth International

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.