Ag Growth International (TSE:AFN) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Ag Growth International's stock has crossed above its 200-day moving average of C$38.20, reaching a high of C$43.40, indicating positive momentum in trading.
• Analysts are optimistic, with upgrades from multiple firms raising target prices; the average target now stands at C$50.71 with a consensus rating of "Buy."
• The company has a market cap of C$827.77 million and operates in the agriculture sector, providing equipment and storage solutions.

Ag Growth International Inc. (TSE:AFN - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$38.20 and traded as high as C$43.40. Ag Growth International shares last traded at C$43.31, with a volume of 49,902 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AFN shares. National Bankshares boosted their price target on shares of Ag Growth International from C$49.00 to C$51.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Royal Bank Of Canada raised shares of Ag Growth International from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from C$40.00 to C$50.00 in a research note on Thursday, May 8th. CIBC reduced their price target on shares of Ag Growth International from C$52.00 to C$49.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. TD Securities lifted their price objective on shares of Ag Growth International from C$55.00 to C$57.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, ATB Capital lifted their price objective on shares of 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. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of C$50.71.

Ag Growth International Stock Down 2.9%

The company has a current ratio of 1.41, a quick ratio of 0.84 and a debt-to-equity ratio of 277.31. The company has a market cap of C$768.73 million, a price-to-earnings ratio of -113.58, a PEG ratio of 1.30 and a beta of 1.37. The firm's fifty day simple moving average is C$42.26 and its 200 day simple moving average is C$38.31.

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.