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

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

Several other equities analysts also recently weighed in on AFN. Atb Cap Markets downgraded Ag Growth International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Raymond James cut their target price on shares of Ag Growth International from C$62.00 to C$52.00 in a research note on Tuesday, January 14th. CIBC decreased their price target on shares of Ag Growth International from C$72.00 to C$61.00 in a research note on Tuesday, January 14th. TD Securities cut their price objective on shares of 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. Finally, ATB Capital lowered 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 report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Ag Growth International currently has a consensus rating of “Moderate Buy” and a consensus target price of C$67.25.

Ag Growth International Price Performance

Shares of TSE:AFN opened at C$39.83 on Thursday. 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 company has a 50-day moving average price of C$49.66 and a 200 day moving average price 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 company has a market cap of C$759.56 million, a P/E ratio of 26.20, a PEG ratio of 1.30 and a beta of 2.29.

Ag Growth International (TSE:AFN) last released its quarterly earnings data on Tuesday, November 5th. The company reported C$1.26 EPS for the quarter, missing analysts’ consensus estimates 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 in the previous year, the company posted $1.62 EPS. Research analysts predict that Ag Growth International will post 6.5761006 earnings per share for the current 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.