Ag Growth International (TSE:AFN) Stock Rating Lowered by Raymond James Financial

Key Points

• Raymond James downgraded Ag Growth International (TSE:AFN) from a "moderate buy" to a "hold."
• Shares traded down 40.2%, falling C$13.03 to C$19.42 on heavy volume, and the company shows high leverage (debt-to-equity 277.31) with a negative PE of -53.94.
• Despite the sell-off and mixed notes from brokers, the analyst consensus remains a "Moderate Buy" with an average target price of C$50.43 (1 Strong Buy, 5 Buy, 2 Hold).

Ag Growth International (TSE:AFN - Get Free Report) was downgraded by equities research analysts at Raymond James Financial from a "moderate buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

AFN has been the subject of several other research reports. Atb Cap Markets upgraded shares of Ag Growth International from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada dropped their price target on shares of Ag Growth International from C$55.00 to C$50.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 14th. Desjardins reduced their price target on shares of Ag Growth International from C$49.00 to C$47.00 and set a "buy" rating for the company in a research report on Monday, October 27th. Finally, TD Securities upped their price objective on Ag Growth International from C$55.00 to C$57.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of C$50.43.

Ag Growth International Trading Down 40.2%

Shares of Ag Growth International stock traded down C$13.03 during trading hours on Thursday, hitting C$19.42. The company's stock had a trading volume of 2,050,503 shares, compared to its average volume of 92,684. The company has a debt-to-equity ratio of 277.31, a current ratio of 1.41 and a quick ratio of 0.84. Ag Growth International has a 12 month low of C$18.65 and a 12 month high of C$55.41. The stock has a 50 day moving average of C$35.86 and a 200 day moving average of C$38.90. The company has a market capitalization of C$365.10 million, a PE ratio of -53.94, a price-to-earnings-growth ratio of 1.30 and a beta of 1.11.

About Ag Growth International

Ag Growth International Inc manufactures portable and stationary grain handling, storage, and conditioning equipment, including augers, belt conveyors, grain storage bins, grain handling accessories, grain aeration equipment, and grain drying systems. The company operates mainly in Portable handling, permanent handling, storage and conditioning, livestock, and manufacturing sectors.

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