Ag Growth International (TSE:AFN) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Key Points

• Canadian Imperial Bank of Commerce raised its price target on Ag Growth from C$19.00 to C$23.00, implying roughly a 13.4% upside from the current share price.
• Analyst coverage is mixed — three Buy ratings and five Hold ratings yield a consensus "Hold" and a consensus target price of C$28.13 after several firms recently cut their targets.
• Company insiders made material purchases (director bought 8,000 shares; insider Paul Brisebois bought 32,000), even as Ag Growth reported negative quarterly EPS, a very high debt-to-equity ratio (408%), and the stock trades near C$20.29.

Ag Growth International (TSE:AFN - Get Free Report) had its price target lifted by research analysts at Canadian Imperial Bank of Commerce from C$19.00 to C$23.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price target suggests a potential upside of 13.36% from the stock's current price.

Several other equities research analysts have also weighed in on AFN. TD Securities lowered their target price 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. Royal Bank Of Canada lowered their target price on shares of Ag Growth International from C$30.00 to C$20.00 in a report on Wednesday, April 1st. Desjardins lowered their target price 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. Cormark set a C$35.00 target price on shares of Ag Growth International and gave the stock a "hold" rating in a report on Monday, January 12th. Finally, ATB Cormark Capital Markets lowered shares of Ag Growth International from a "strong-buy" rating to a "moderate buy" rating and set a C$36.00 target price on the stock. in a report on Wednesday, March 25th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of C$28.13.

Ag Growth International Stock Performance

TSE:AFN traded up C$0.89 during trading hours on Friday, hitting C$20.29. 115,698 shares of the company traded hands, compared to its average volume of 135,926. The stock has a market capitalization of C$382.67 million, a price-to-earnings ratio of -14.39, a P/E/G ratio of 1.30 and a beta of 1.11. 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 50-day moving average of C$22.29 and a 200 day moving average of C$25.75. The company has a current ratio of 1.28, a quick ratio of 0.84 and a debt-to-equity ratio of 408.06.

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

Insider Buying and Selling

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

Ag Growth International Company Profile

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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