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

Ag Growth International (TSE:AFN) was downgraded by investment analysts at ATB Capital from an “outperform” rating to a “sector perform” rating in a note issued to investors on Tuesday,BayStreet.CA reports. They presently have a C$63.00 price objective on the stock, down from their previous price objective of C$79.00. ATB Capital’s target price indicates a potential upside of 58.37% from the stock’s previous close.

A number of other equities analysts have also commented on AFN. Raymond James reduced their price objective on Ag Growth International from C$62.00 to C$52.00 in a research note on Tuesday. Royal Bank of Canada reduced their price target on shares of Ag Growth International from C$80.00 to C$75.00 in a research report on Thursday, November 7th. CIBC dropped their target price on shares of Ag Growth International from C$72.00 to C$61.00 in a research note on Tuesday. Finally, TD Securities lowered their price target 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$67.25.

Ag Growth International Price Performance

Shares of Ag Growth International stock opened at C$39.78 on Tuesday. The stock has a market capitalization of C$758.60 million, a price-to-earnings ratio of 26.17, a P/E/G ratio of 1.30 and a beta of 2.29. The firm’s 50-day moving average price is C$51.55 and its two-hundred day moving average price is C$52.70. The company has a current ratio of 1.49, a quick ratio of 0.84 and a debt-to-equity ratio of 298.35. Ag Growth International has a 1-year low of C$39.69 and a 1-year high of C$64.51.

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.