ATB Cormark Capital Markets Has Lowered Expectations for Ag Growth International (TSE:AFN) Stock Price

Key Points

• ATB Cormark cut Ag Growth International’s price target from C$18 to C$11 while maintaining a “sector perform” rating, implying about 49% upside from the reported C$7.36 share price.
• Shares fell 6.8% to C$7.36, near the lower end of their 52-week range, amid weak financial results including a quarterly loss of C$2.06 per share and negative profitability metrics.
• Analyst sentiment remains cautious: the stock has an overall “Hold” rating with an average target of C$22.78, although an insider recently bought nearly C$300,000 worth of shares.

Ag Growth International (TSE:AFN - Get Free Report) had its price objective decreased by equities research analysts at ATB Cormark Capital Markets from C$18.00 to C$11.00 in a research note issued to investors on Thursday, BayStreet reports. The brokerage currently has a "sector perform" rating on the stock. ATB Cormark Capital Markets' price objective would indicate a potential upside of 49.46% from the stock's current price.

AFN has been the topic of several other reports. Desjardins dropped their price target on shares of Ag Growth International from C$25.00 to C$20.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. National Bank Financial reduced their price objective on 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. TD Securities lowered Ag Growth International from a "strong-buy" rating to a "hold" rating in a research report on Monday. Finally, Royal Bank Of Canada decreased their target price on shares of Ag Growth International from C$30.00 to C$20.00 and set an "outperform" rating for the company in a report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Ag Growth International currently has an average rating of "Hold" and an average target price of C$22.78.

Ag Growth International Stock Down 6.8%

Shares of TSE AFN traded down C$0.54 during trading on Thursday, reaching C$7.36. 91,029 shares of the stock were exchanged, compared to its average volume of 142,616. The company has a market capitalization of C$138.96 million, a price-to-earnings ratio of -1.18, a price-to-earnings-growth ratio of 1.30 and a beta of 1.15. The business's 50-day moving average price is C$13.78 and its 200 day moving average price is C$18.38. The company has a quick ratio of 0.84, a current ratio of 1.30 and a debt-to-equity ratio of 541.43. Ag Growth International has a twelve month low of C$5.80 and a twelve month high of C$38.09.

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

Insider Activity at Ag Growth International

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

Ag Growth International Company Profile

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.

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