Ag Growth International (TSE:AFN) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• Ag Growth International Inc. shares surpassed their two hundred day moving average, trading as high as C$43.24 before settling at C$42.54.
• Analysts have issued bullish ratings with price targets ranging from C$47.00 to C$55.00, with the consensus target at C$49.43 indicating a "Moderate Buy" rating.
• The company has solid financials, including a market cap of C$822.61 million and a debt-to-equity ratio of 277.31, highlighting its significant leverage in the market.

Ag Growth International Inc. (TSE:AFN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$38.02 and traded as high as C$43.24. Ag Growth International shares last traded at C$42.54, with a volume of 55,583 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AFN shares. Royal Bank Of Canada raised Ag Growth International from a "sector perform" rating to an "outperform" rating and boosted their target price for the company from C$40.00 to C$50.00 in a research report on Thursday, May 8th. CIBC dropped their price objective on Ag Growth International from C$52.00 to C$49.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. National Bankshares boosted their price objective on Ag Growth International from C$49.00 to C$51.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. ATB Capital boosted their price objective on Ag Growth International from C$43.00 to C$47.00 and gave the company a "sector perform" rating in a report on Thursday, June 19th. Finally, Desjardins upgraded Ag Growth International to a "moderate buy" rating in a report on Monday, June 9th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$49.43.

Ag Growth International Stock Performance

The company has a debt-to-equity ratio of 277.31, a current ratio of 1.41 and a quick ratio of 0.84. The stock has a market cap of C$828.35 million, a price-to-earnings ratio of 34.60, a PEG ratio of 1.30 and a beta of 2.29. The firm has a fifty day moving average of C$40.83 and a 200 day moving average of C$37.82.

Ag Growth International Company Profile

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.