Ag Growth International (TSE:AFN) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Ag Growth International Inc. shares have crossed above their 200-day moving average, reaching as high as C$41.29 during trading, indicating potential upward momentum for the stock.
• Analysts have raised their target prices for Ag Growth International, with estimates ranging from C$47.00 to C$57.00, and a consensus target price set at C$50.71.
• The company maintains a debt-to-equity ratio of 277.31, suggesting a relatively high level of debt compared to its equity capital.

Ag Growth International Inc. (TSE:AFN - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$38.38 and traded as high as C$41.29. Ag Growth International shares last traded at C$41.08, with a volume of 71,254 shares.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Raymond James Financial raised their price target on shares of Ag Growth International from C$47.00 to C$52.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. TD Securities increased their price objective on shares of Ag Growth International from C$55.00 to C$57.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Atb Cap Markets raised shares of Ag Growth International from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 5th. ATB Capital increased their price objective on shares of Ag Growth International from C$43.00 to C$47.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 19th. Finally, Desjardins raised their price target on shares of Ag Growth International from C$47.00 to C$49.00 and gave the company a "buy" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Ag Growth International presently has a consensus rating of "Buy" and an average target price of C$50.71.

Ag Growth International Trading Up 0.7%

The company's 50-day moving average price is C$42.03 and its 200-day moving average price is C$38.47. The company has a debt-to-equity ratio of 277.31, a quick ratio of 0.84 and a current ratio of 1.41. The firm has a market capitalization of C$737.52 million, a PE ratio of -108.97, a PEG ratio of 1.30 and a beta of 1.46.

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.