Royal Bank of Canada Downgrades Ag Growth International (TSE:AFN) to Hold

Ag Growth International (TSE:AFN) was downgraded by equities researchers at Royal Bank of Canada from a “moderate buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

AFN has been the subject of a number of other research reports. Atb Cap Markets cut shares of Ag Growth International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. TD Securities reduced their price objective on Ag Growth International from C$73.00 to C$57.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. CIBC cut their target price on Ag Growth International from C$72.00 to C$61.00 in a research note on Tuesday, January 14th. ATB Capital downgraded shares of Ag Growth International from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$79.00 to C$63.00 in a research note on Tuesday, January 14th. Finally, Raymond James dropped their price objective on shares of Ag Growth International from C$62.00 to C$52.00 in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Ag Growth International presently has an average rating of “Moderate Buy” and a consensus price target of C$67.25.

Ag Growth International Stock Performance

AFN stock opened at C$39.83 on Thursday. The firm has a 50 day simple moving average of C$49.66 and a 200 day simple moving average of C$52.03. Ag Growth International has a 52 week low of C$38.62 and a 52 week high of C$64.51. The stock has a market cap of C$759.56 million, a P/E ratio of 26.20, a P/E/G ratio of 1.30 and a beta of 2.29. The company has a debt-to-equity ratio of 298.35, a quick ratio of 0.84 and a current ratio of 1.49.

Ag Growth International (TSE:AFN) last posted its earnings results on Tuesday, November 5th. The company reported C$1.26 EPS for the quarter, missing the consensus estimate of C$1.66 by C($0.40). Ag Growth International had a return on equity of 10.35% and a net margin of 2.13%. During the same quarter last year, the company earned $1.62 EPS. Research analysts anticipate that Ag Growth International will post 6.5761006 earnings per share for the current fiscal year.

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.