AGI (NYSE:AGBK) Cut to Strong Sell at Zacks Research

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

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

AGI Stock Performance

NYSE:AGBK opened at $6.92 on Thursday. The stock has a 50-day moving average of $7.05. The stock has a market cap of $1.11 billion and a PE ratio of 22.31. AGI has a 12 month low of $6.32 and a 12 month high of $12.21.

AGI (NYSE:AGBK) last announced 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 company had revenue of $260.00 million for the quarter, compared to analysts’ expectations of $445.13 million.

AGI Company Profile

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.