Ag Growth International (TSE:AFN) Stock Price Up 27.5% After Analyst Upgrade

Shares of Ag Growth International Inc. (TSE:AFN) were up 27.5% during mid-day trading on Friday after Raymond James Financial upgraded the stock from a hold rating to a moderate buy rating. Raymond James Financial now has a C$52.00 price target on the stock. Ag Growth International traded as high as C$31.44 and last traded at C$30.19. Approximately 246,158 shares traded hands during mid-day trading, an increase of 115% from the average daily volume of 114,253 shares. The stock had previously closed at C$23.67.

AFN has been the topic of a number of other research reports. Desjardins lowered their target price on shares of Ag Growth International from C$49.00 to C$47.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Royal Bank Of Canada downgraded Ag Growth International from a “moderate buy” rating to a “hold” rating and decreased their price objective for the company from C$50.00 to C$25.00 in a report on Monday, November 17th. CIBC lowered Ag Growth International from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from C$58.00 to C$33.00 in a research note on Monday, November 17th. Cibc Captl Mkts downgraded Ag Growth International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 17th. Finally, National Bankshares decreased their price target on Ag Growth International from C$49.00 to C$37.00 and set an “outperform” rating on the stock in a research note on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Ag Growth International has a consensus rating of “Moderate Buy” and an average price target of C$42.57.

Ag Growth International Stock Performance

The firm has a market capitalization of C$544.33 million, a P/E ratio of -60.29, a price-to-earnings-growth ratio of 1.30 and a beta of 0.76. The stock has a 50-day moving average of C$24.29 and a 200 day moving average of C$34.43. 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 (TSE:AFN) last issued its quarterly earnings results on Thursday, January 8th. The company reported C$0.80 EPS for the quarter. Ag Growth International had a net margin of 1.71% and a return on equity of 7.48%. The firm had revenue of C$389.43 million for the quarter. On average, research analysts anticipate that Ag Growth International Inc. will post 6.5761006 earnings per share for the current year.

Ag Growth International Company Profile

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.