Ag Growth International (TSE:AFN) Price Target Cut to C$48.00 by Analysts at CIBC

Ag Growth International (TSE:AFN) had its target price dropped by equities researchers at CIBC from C$56.00 to C$48.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s target price points to a potential upside of 33.19% from the stock’s previous close.

Several other brokerages have also recently issued reports on AFN. Royal Bank of Canada decreased their price objective on Ag Growth International from C$45.00 to C$40.00 and set a “sector perform” rating on the stock in a report on Friday. ATB Capital lowered shares of Ag Growth International from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$79.00 to C$63.00 in a research report on Tuesday, January 14th. Atb Cap Markets downgraded shares of Ag Growth International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Desjardins lowered their price target on shares of Ag Growth International from C$57.00 to C$49.00 and set a “buy” rating for the company in a report on Friday. Finally, National Bankshares reduced their price objective on Ag Growth International from C$55.00 to C$51.00 and set an “outperform” rating on the stock in a research note on Friday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$50.50.

Ag Growth International Price Performance

Shares of AFN stock traded up C$0.84 during trading hours on Friday, hitting C$36.04. The stock had a trading volume of 87,134 shares, compared to its average volume of 114,837. The company has a debt-to-equity ratio of 277.31, a current ratio of 1.41 and a quick ratio of 0.84. The stock has a market capitalization of C$688.82 million, a price-to-earnings ratio of 28.77, a PEG ratio of 1.30 and a beta of 2.29. Ag Growth International has a one year low of C$31.60 and a one year high of C$64.43. The stock’s 50-day moving average price is C$41.04 and its two-hundred day moving average price is C$48.67.

About Ag Growth International

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.