Ag Growth International (TSE:AFN) Cut to “Sector Perform” at ATB Capital

Ag Growth International (TSE:AFN) was downgraded by equities researchers at ATB Capital from an “outperform” rating to a “sector perform” rating in a research note issued on Tuesday,BayStreet.CA reports. They presently have a C$63.00 price objective on the stock, down from their prior price objective of C$79.00. ATB Capital’s price objective indicates a potential upside of 51.81% from the stock’s current price.

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

Ag Growth International Price Performance

Shares of AFN traded up C$0.21 during trading hours on Tuesday, reaching C$41.50. 105,137 shares of the company traded hands, compared to its average volume of 128,113. The stock has a fifty day simple moving average of C$51.72 and a 200 day simple moving average of C$52.78. Ag Growth International has a fifty-two week low of C$39.80 and a fifty-two week high of C$64.51. The stock has a market capitalization of C$791.41 million, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.30 and a beta of 2.29. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 298.35.

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.