Raymond James Financial Cuts Ag Growth International (TSE:AFN) Price Target to C$25.00

Key Points

• Raymond James cut its price target on Ag Growth International from C$30.00 to C$25.00, which the firm says implies about a 41.48% upside from the current share price.
• The stock's consensus rating is a Hold (three Buy ratings and five Hold ratings) with a mean analyst target of C$28.75.
• Ag Growth reported a quarterly loss of C($2.62) per share, has a negative P/E and a very high debt-to-equity ratio (307.12), indicating weak profitability and elevated leverage.

Ag Growth International (TSE:AFN - Get Free Report) had its price objective reduced by Raymond James Financial from C$30.00 to C$25.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Raymond James Financial's target price would suggest a potential upside of 41.48% from the company's current price.

AFN has been the subject of a number of other research reports. ATB Cormark Capital Markets downgraded shares of Ag Growth International from a "strong-buy" rating to a "moderate buy" rating and set a C$36.00 price target for the company. in a research note on Wednesday. Royal Bank Of Canada raised their price objective on Ag Growth International from C$25.00 to C$30.00 and gave the company a "sector perform" rating in a research report on Tuesday, January 13th. TD Securities set a C$41.00 price target on shares of Ag Growth International and gave the company a "buy" rating in a research report on Tuesday, January 13th. National Bank Financial downgraded shares of Ag Growth International from an "outperform" rating to a "hold" rating and decreased their target price for the company from C$39.00 to C$24.00 in a research note on Wednesday. Finally, Desjardins reduced their price objective on Ag Growth International from C$47.00 to C$40.00 and set a "buy" rating for the company in a research report on Monday, January 12th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of C$28.75.

Ag Growth International Stock Performance

Shares of TSE AFN traded up C$0.78 during midday trading on Thursday, reaching C$17.67. The company's stock had a trading volume of 313,221 shares, compared to its average volume of 145,626. The stock has a market capitalization of C$332.36 million, a P/E ratio of -36.81, a PEG ratio of 1.30 and a beta of 0.52. The company has a debt-to-equity ratio of 307.12, a current ratio of 1.70 and a quick ratio of 0.84. The firm has a 50 day moving average price of C$27.98 and a 200-day moving average price of C$29.15. Ag Growth International has a 12-month low of C$13.60 and a 12-month high of C$44.84.

Ag Growth International (TSE:AFN - Get Free Report) last issued its quarterly earnings results on Wednesday, March 25th. The company reported C($2.62) earnings per share (EPS) for the quarter. Ag Growth International had a negative return on equity of 3.11% and a negative net margin of 0.66%.The company had revenue of C$395.77 million for the quarter. As a group, equities analysts predict that Ag Growth International will post 6.5761006 earnings per share for the current year.

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. Some of its brands are batco, wheatheart, westfield, storm, rem, hi roller, union iron, hsi, tramco, ptm, vis, nuvision, twister, grain guard, airlanco, westeel, frame, and entringer.

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