ATB Capital Downgrades Ag Growth International (TSE:AFN) to Sector Perform

Ag Growth International (TSE:AFN) was downgraded by equities research analysts at ATB Capital from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. They currently have a C$63.00 target price on the stock, down from their previous target price of C$79.00. ATB Capital’s price target points to a potential upside of 51.81% from the stock’s current price.

Several other brokerages have also recently commented on AFN. Raymond James dropped their price target on shares of Ag Growth International from C$62.00 to C$52.00 in a research report on Tuesday. TD Securities reduced their target price on shares of Ag Growth International from C$73.00 to C$57.00 and set a “buy” rating for the company in a report on Tuesday. Royal Bank of Canada cut their price objective on Ag Growth International from C$80.00 to C$75.00 in a research report on Thursday, November 7th. Finally, CIBC decreased their target price on Ag Growth International from C$72.00 to C$61.00 in a report on Tuesday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Ag Growth International currently has an average rating of “Moderate Buy” and a consensus target price of C$67.25.

Ag Growth International Price Performance

TSE AFN traded up C$0.21 on Tuesday, reaching C$41.50. 105,137 shares of the stock traded hands, compared to its average volume of 128,113. Ag Growth International has a 12 month low of C$39.80 and a 12 month high of C$64.51. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 298.35. The firm’s fifty day simple moving average is C$51.72 and its 200 day simple moving average is C$52.78. The company has a market cap of C$791.41 million, a price-to-earnings ratio of 27.30, a P/E/G ratio of 1.30 and a beta of 2.29.

Ag Growth International Company Profile

Ag Growth International Inc, together with its subsidiaries, manufactures and sells equipment for the agriculture industry in Canada, the United States, and internationally. It operates through Farm and Commercial segments. The company offers grain, bolted, hopper, and smooth wall bins; temporary storage; unloads and sweeps systems; water tanks; secondary containment systems; fuel tanks; and storage accessories, as well as mixed flow dryers; fans and heaters; aeration products; vents and exhausters; and stirring systems.