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

Key Points

• Ag Growth International Inc.'s stock price surpassed its 200-day moving average of C$37.91, reaching a high of C$42.64 during trading.
• Analysts have largely recommended the stock positively, with one strong buy, six buy ratings, and a consensus price target of C$50.71.
• The company has a current market cap of C$805.98 million and a high debt-to-equity ratio of 277.31, indicating significant leverage.

Ag Growth International Inc. (TSE:AFN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$37.91 and traded as high as C$42.64. Ag Growth International shares last traded at C$42.17, with a volume of 95,619 shares trading hands.

Wall Street Analyst Weigh In

AFN has been the subject of a number of recent analyst reports. Atb Cap Markets raised shares of Ag Growth International from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 5th. CIBC dropped their price target on Ag Growth International from C$52.00 to C$49.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. ATB Capital raised their price objective on 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. National Bankshares upped their target price 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. Finally, Desjardins raised their price target on shares of Ag Growth International from C$47.00 to C$49.00 and gave the stock a "buy" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of C$50.71.

Ag Growth International Trading Down 0.7%

The company has a 50 day moving average of C$41.72 and a 200 day moving average of C$37.91. The firm has a market cap of C$805.98 million, a P/E ratio of 33.67, a PEG ratio of 1.30 and a beta of 2.29. The company has a debt-to-equity ratio of 277.31, a quick ratio of 0.84 and a current ratio of 1.41.

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.

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