Ag Growth International (TSE:AFN) Stock Rating Lowered by TD Securities

Key Points

• TD Securities downgraded Ag Growth International from “strong buy” to “hold.” The broader analyst consensus is also “hold,” with three buy ratings, six hold ratings, and an average price target of C$23.56.
• Several analysts recently cut their price targets, while the stock opened at C$6.98—near its 52-week low of C$6.80 and well below its 52-week high of C$38.09.
• Ag Growth reported a quarterly loss of C$2.06 per share, an 8.43% negative net margin, and a 48.31% negative return on equity. Director Gary Keith Anderson nevertheless bought nearly 21,865 shares for approximately C$300,000.

Ag Growth International (TSE:AFN - Get Free Report) was downgraded by equities research analysts at TD Securities from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday, Zacks reports.

A number of other analysts have also issued reports on the stock. National Bank Financial lowered their target price on shares of Ag Growth International from C$20.00 to C$19.00 and set a "sector perform" rating for the company in a research note on Friday, July 31st. Royal Bank Of Canada reduced their price target on shares of Ag Growth International from C$30.00 to C$20.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Desjardins decreased their price objective on shares of Ag Growth International from C$25.00 to C$20.00 and set a "buy" rating for the company in a report on Friday, July 31st. Finally, ATB Cormark Capital Markets lowered their price objective on shares of Ag Growth International from C$25.00 to C$18.00 and set a "sector perform" rating for the company in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of C$23.56.

Ag Growth International Price Performance

AFN opened at C$6.98 on Monday. The business has a fifty day moving average of C$14.29 and a 200 day moving average of C$18.64. Ag Growth International has a 52-week low of C$6.80 and a 52-week high of C$38.09. The company has a quick ratio of 0.84, a current ratio of 1.30 and a debt-to-equity ratio of 541.43. The stock has a market cap of C$131.78 million, a P/E ratio of -1.12, a PEG ratio of 1.30 and a beta of 1.15.

Ag Growth International (TSE:AFN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C($2.06) EPS for the quarter. Ag Growth International had a negative net margin of 8.43% and a negative return on equity of 48.31%. The business had revenue of C$323.18 million during the quarter. As a group, sell-side analysts anticipate that Ag Growth International will post 6.5761006 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gary Keith Anderson bought 21,865 shares of the stock in a transaction on Friday, July 31st. The stock was acquired at an average cost of C$13.72 per share, for a total transaction of C$299,987.80. Following the acquisition, the director owned 106,990 shares of the company's stock, valued at C$1,467,902.80. This represents a 25.69% increase in their ownership of the stock. 1.06% of the stock is currently owned by company insiders.

About Ag Growth International

Ag Growth International Inc is a leading manufacturer and supplier of equipment and solutions for the agriculture, fertilizer, feed, food and commercial sectors. With manufacturing facilities and operations on six continents, AGI provides complete systems and services that support producers and processors throughout the agricultural value chain.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.