AGI (NYSE:AGBK) Hits New 1-Year Low - Should You Sell?

Key Points

• AGI (NYSE:AGBK) hit a new 52-week low, trading as low as $6.46 and last at $6.6740 on heavy volume, down about 3.3% from the prior close.
• Analysts remain largely positive despite the drop — seven Buy ratings and one Hold give a consensus target of $17.14, with price targets as high as $19 from Goldman Sachs.
• The company recently missed EPS estimates (reported $0.05 vs. $0.27 expected) although revenue of $547.8M slightly exceeded forecasts of $541.7M.

AGI Inc (NYSE:AGBK - Get Free Report)'s stock price hit a new 52-week low on Wednesday . The company traded as low as $6.46 and last traded at $6.6740, with a volume of 612550 shares. The stock had previously closed at $6.90.

Analysts Set New Price Targets

A number of analysts recently weighed in on AGBK shares. Wall Street Zen upgraded shares of AGI to a "hold" rating in a report on Saturday, February 21st. Itau BBA Securities started coverage on shares of AGI in a report on Monday, March 9th. They set an "outperform" rating and a $15.00 target price for the company. The Goldman Sachs Group started coverage on shares of AGI in a report on Monday, March 9th. They set a "buy" rating and a $19.00 target price for the company. Zacks Research upgraded shares of AGI to a "hold" rating in a report on Tuesday, March 10th. Finally, HSBC started coverage on shares of AGI in a report on Thursday, March 5th. They set a "buy" rating and a $15.00 target price for the company. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $17.14.

AGI Stock Down 3.3%

AGI (NYSE:AGBK - Get Free Report) last posted its quarterly earnings data on Monday, March 23rd. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.22). The company had revenue of $547.80 million for the quarter, compared to analysts' expectations of $541.66 million.

About AGI

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil's population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.

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