Ag Growth International Inc (AFN) Shares Down 6.7% After Analyst Downgrade
Ag Growth International Inc (TSE:AFN) was down 6.7% during mid-day trading on Monday after Scotiabank lowered their price target on the stock from C$70.00 to C$65.00. Scotiabank currently has an outperform rating on the stock. Ag Growth International traded as low as C$51.34 and last traded at C$51.58. Approximately 222,631 shares traded hands during trading, an increase of 790% from the average daily volume of 25,008 shares. The stock had previously closed at C$55.29.
A number of other equities research analysts also recently issued reports on the company. TD Securities upgraded Ag Growth International from a “hold” rating to a “buy” rating and upped their price objective for the company from C$63.00 to C$72.00 in a research report on Friday, August 11th. National Bank Financial upped their price objective on Ag Growth International from C$60.00 to C$70.00 and gave the company an “outperform” rating in a research report on Friday, August 11th. Eight investment analysts have rated the stock with a buy rating, Ag Growth International has a consensus rating of “Buy” and a consensus target price of C$65.57.
In other news, Director Gary Keith Anderson sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of C$58.54, for a total transaction of C$468,320.00.
The firm has a market cap of $824.06 million and a PE ratio of 27.99. The company’s 50-day moving average price is $57.03 and its 200-day moving average price is $55.75.
About Ag Growth International
Ag Growth International Inc is a Canada-based manufacturer of agricultural equipment. The Company focuses on grain handling, storage and conditioning products. The Company’s products service both Farm and Commercial markets, and sells to farmers, contractors and corporate entities. The Company manufactures in Canada, the United States and Europe.
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