Ag Growth International (TSE:AFN) Sets New 1-Year Low - Here's Why

Key Points

• Ag Growth International shares hit a new 52-week low, falling to C$13.49 and last trading at C$13.87, well below their 50-day and 200-day moving averages.
• Analyst sentiment remains mixed: four analysts rate the stock “Buy” and five rate it “Hold,” producing an average “Hold” rating and a C$27.78 price target.
• The company reported a quarterly loss of C$2.06 per share, a negative 3.80% net margin and negative 20.06% return on equity; its debt-to-equity ratio was also elevated at 497.80%. Director Rohit Bhardwaj separately increased his holdings by purchasing 8,500 shares.

Shares of Ag Growth International Inc. (TSE:AFN - Get Free Report) reached a new 52-week low on Friday . The stock traded as low as C$13.49 and last traded at C$13.87, with a volume of 539360 shares trading hands. The stock had previously closed at C$14.32.

Wall Street Analyst Weigh In

AFN has been the topic of a number of recent research reports. TD raised their price target on shares of Ag Growth International from C$22.00 to C$30.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Royal Bank Of Canada raised shares of Ag Growth International from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from C$25.00 to C$30.00 in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce increased their price objective on shares of Ag Growth International from C$19.00 to C$23.00 in a research note on Friday, May 1st. National Bank Financial decreased their target price on Ag Growth International from C$24.00 to C$20.00 and set a "sector perform" rating for the company in a research note on Monday, July 13th. Finally, ATB Cormark Capital Markets lifted their target price on Ag Growth International from C$22.00 to C$25.00 and gave the company a "sector perform" rating in a research note on Thursday, May 7th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of C$27.78.

Ag Growth International Price Performance

The company has a 50 day moving average of C$20.52 and a two-hundred day moving average of C$23.20. The firm has a market cap of C$257.26 million, a P/E ratio of -4.77, a PEG ratio of 1.30 and a beta of 0.99. The company has a quick ratio of 0.84, a current ratio of 1.35 and a debt-to-equity ratio of 497.80.

Ag Growth International (TSE:AFN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C($2.06) earnings per share for the quarter. Ag Growth International had a negative net margin of 3.80% and a negative return on equity of 20.06%. The business had revenue of C$323.18 million during the quarter. Sell-side analysts expect that Ag Growth International Inc. will post 6.5761006 EPS for the current year.

Insider Buying and Selling

In other Ag Growth International news, Director Rohit Bhardwaj bought 8,500 shares of Ag Growth International stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of C$24.00 per share, for a total transaction of C$204,000.00. Following the completion of the acquisition, the director owned 28,500 shares of the company's stock, valued at approximately C$684,000. This represents a 42.50% increase in their position. 1.06% of the stock is currently owned by corporate insiders.

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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