Royal Bank of Canada Issues Pessimistic Forecast for Ag Growth International (TSE:AFN) Stock Price

Ag Growth International (TSE:AFN) had its target price cut by equities research analysts at Royal Bank of Canada from C$45.00 to C$40.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 10.99% from the stock’s previous close.

Several other analysts also recently weighed in on the company. CIBC dropped their price objective on Ag Growth International from C$61.00 to C$58.00 in a research report on Thursday, January 30th. TD Securities reduced their price target on shares of Ag Growth International from C$57.00 to C$48.00 and set a “buy” rating on the stock in a research note on Wednesday. Atb Cap Markets cut shares of Ag Growth International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. ATB Capital cut shares of Ag Growth International from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$79.00 to C$63.00 in a research note on Tuesday, January 14th. Finally, National Bankshares dropped their price target on Ag Growth International from C$55.00 to C$51.00 and set an “outperform” rating for the company in a research note on Friday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$50.50.

Ag Growth International Price Performance

TSE:AFN traded up C$0.84 during mid-day trading on Friday, reaching C$36.04. The stock had a trading volume of 87,134 shares, compared to its average volume of 114,837. The stock has a 50-day simple moving average of C$41.04 and a two-hundred day simple moving average of C$48.67. The company has a debt-to-equity ratio of 277.31, a current ratio of 1.41 and a quick ratio of 0.84. Ag Growth International has a 12 month low of C$31.60 and a 12 month high of C$64.43. The stock has a market capitalization of C$688.82 million, a PE ratio of 28.77, a P/E/G ratio of 1.30 and a beta of 2.29.

About Ag Growth International

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.