Ag Growth International Inc. (TSE:AFN) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Consensus "Hold": Eight brokerages rate AFN an average "Hold" (five hold, three buy) with a 12‑month average price target of C$28.13, and several firms have recently cut targets (e.g., National Bank to C$24, TD to C$22).
• Notable insider buying: Two insiders bought a combined 40,000 shares on March 26 at about C$17.09–C$17.67, with one insider boosting their stake ~199%, leaving corporate insiders owning 1.06% of the stock.
• Recent results and trading: AFN reported C($2.62) EPS for the quarter on C$395.8M revenue, trades around C$19.93 with a market cap of ~C$376M, and sits well below its 12‑month high of C$44.84.

Shares of Ag Growth International Inc. (TSE:AFN - Get Free Report) have been given an average recommendation of "Hold" by the eight brokerages that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$28.13.

Several brokerages have issued reports on AFN. National Bank Financial downgraded shares of Ag Growth International from an "outperform" rating to a "hold" rating and reduced their price target for the company from C$39.00 to C$24.00 in a report on Wednesday, March 25th. Canadian Imperial Bank of Commerce upped their price target on shares of Ag Growth International from C$19.00 to C$23.00 in a report on Friday, May 1st. ATB Cormark Capital Markets downgraded shares of Ag Growth International from a "strong-buy" rating to a "moderate buy" rating and set a C$36.00 price target on the stock. in a report on Wednesday, March 25th. TD Securities reduced their price target on shares of Ag Growth International from C$41.00 to C$22.00 and set a "buy" rating on the stock in a report on Thursday, March 26th. Finally, Desjardins reduced their price target on shares of Ag Growth International from C$47.00 to C$40.00 and set a "buy" rating on the stock in a report on Monday, January 12th.

Insider Activity

In other Ag Growth International news, Director Steven Robert Sommerfeld purchased 8,000 shares of Ag Growth International stock in a transaction on Thursday, March 26th. The shares were bought at an average price of C$17.67 per share, with a total value of C$141,360.00. Following the completion of the acquisition, the director directly owned 8,000 shares of the company's stock, valued at approximately C$141,360. This trade represents a ∞ increase in their ownership of the stock. Also, insider Paul Brisebois purchased 32,000 shares of Ag Growth International stock in a transaction on Thursday, March 26th. The stock was acquired at an average cost of C$17.09 per share, for a total transaction of C$546,880.00. Following the acquisition, the insider directly owned 48,086 shares of the company's stock, valued at approximately C$821,789.74. This represents a 198.93% increase in their ownership of the stock. 1.06% of the stock is owned by corporate insiders.

Ag Growth International Trading Up 0.5%

Shares of AFN opened at C$19.93 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 0.84 and a debt-to-equity ratio of 408.06. The firm's 50-day moving average is C$22.10 and its two-hundred day moving average is C$25.51. Ag Growth International has a twelve month low of C$13.60 and a twelve month high of C$44.84. The firm has a market capitalization of C$375.88 million, a P/E ratio of -14.13, a PEG ratio of 1.30 and a beta of 1.04.

Ag Growth International (TSE:AFN - Get Free Report) last issued its earnings results on Wednesday, March 25th. The company reported C($2.62) earnings per share for the quarter. Ag Growth International had a negative return on equity of 9.21% and a negative net margin of 1.86%.The company had revenue of C$395.77 million for the quarter. On average, research analysts predict that Ag Growth International will post 6.5761006 earnings per share 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.

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