Ag Growth International (TSE:AFN) Shares Up 27.5% on Analyst Upgrade

Ag Growth International Inc. (TSE:AFN) shares shot up 27.5% on Friday after Raymond James Financial upgraded the stock from a market perform rating to an outperform 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. 246,158 shares changed hands during trading, an increase of 115% from the average session volume of 114,253 shares. The stock had previously closed at C$23.67.

Several other equities analysts also recently issued reports on AFN. Cibc Captl Mkts downgraded Ag Growth International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 17th. Desjardins lowered their price target on Ag Growth International from C$49.00 to C$47.00 and set a “buy” rating on the stock in a report on Monday, October 27th. National Bankshares reduced their price objective on shares of Ag Growth International from C$49.00 to C$37.00 and set an “outperform” rating for the company in a report on Monday, December 1st. CIBC cut shares of Ag Growth International from an “outperform” rating to a “neutral” rating and lowered their target price for the company from C$58.00 to C$33.00 in a research note on Monday, November 17th. Finally, Royal Bank Of Canada lowered shares of Ag Growth International from a “moderate buy” rating to a “hold” rating and reduced their price target for the stock from C$50.00 to C$25.00 in a research note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$42.57.

Ag Growth International Price Performance

The company has a market cap of C$552.91 million, a price-to-earnings ratio of -81.69, a PEG ratio of 1.30 and a beta of 0.76. The company’s fifty day moving average price is C$24.43 and its two-hundred day moving average price is C$34.56. The company has a quick ratio of 0.84, a current ratio of 1.41 and a debt-to-equity ratio of 277.31.

Ag Growth International (TSE:AFN) last issued its quarterly earnings results on Thursday, January 8th. The company reported C$0.80 earnings per share for the quarter. Ag Growth International had a net margin of 1.71% and a return on equity of 7.48%. The company had revenue of C$389.43 million during the quarter. On average, equities research analysts forecast that Ag Growth International Inc. will post 6.5761006 EPS for the current fiscal 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.