AGI (NYSE:AGBK) Downgraded to Strong Sell Rating by Zacks Research

AGI (NYSE:AGBK) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

AGBK has been the topic of several other reports. Itau BBA Securities lowered AGI from an “outperform” rating to a “market perform” rating and set a $9.00 price target on the stock. in a research report on Wednesday, May 6th. Weiss Ratings initiated coverage on AGI in a research report on Tuesday, May 12th. They issued a “sell (d)” rating for the company. Finally, Susquehanna set a $14.00 price objective on AGI in a research note on Friday, May 8th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $15.86.

AGI Price Performance

AGI stock opened at $6.92 on Thursday. The company has a market capitalization of $1.11 billion and a P/E ratio of 22.31. The stock has a fifty day simple moving average of $7.05. AGI has a twelve month low of $6.32 and a twelve month high of $12.21.

AGI (NYSE:AGBK) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. The business had revenue of $260.00 million for the quarter, compared to analysts’ expectations of $445.13 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.