ATB Cormark Capital Markets Issues Positive Forecast for Ag Growth International (TSE:AFN) Stock Price

Key Points

• ATB Cormark Capital Markets raised its price target for Ag Growth International to C$25 and maintained a sector perform rating, implying about a 14.84% upside from the prior close.
• Analyst sentiment is mixed but cautious: the consensus rating is Hold with a consensus price target of C$26.75 (two Buys and six Holds), and several firms recently trimmed their targets.
• Fundamentals show weakness—shares at C$21.77, last quarter EPS of C($2.35) and negative margins/ROE—yet insiders bought stock recently (Paul Brisebois 32,000 shares; Steven Sommerfeld 8,000 shares).

Ag Growth International (TSE:AFN - Get Free Report) had its price target lifted by ATB Cormark Capital Markets from C$22.00 to C$25.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. ATB Cormark Capital Markets' target price suggests a potential upside of 14.84% from the stock's previous close.

Other research analysts also recently issued reports about the stock. Raymond James Financial decreased their price target on shares of Ag Growth International from C$30.00 to C$25.00 in a research report on Thursday, March 26th. Royal Bank Of Canada reduced their price objective on Ag Growth International from C$30.00 to C$20.00 in a research note on Wednesday, April 1st. TD Securities decreased their target price on 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. National Bank Financial downgraded Ag Growth International from an "outperform" rating to a "hold" rating and lowered their target price for the company from C$39.00 to C$24.00 in a research report on Wednesday, March 25th. Finally, Canadian Imperial Bank of Commerce boosted their price target on Ag Growth International from C$19.00 to C$23.00 in a report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Ag Growth International currently has an average rating of "Hold" and a consensus price target of C$26.75.

Ag Growth International Stock Performance

Shares of TSE AFN traded up C$1.76 during midday trading on Thursday, hitting C$21.77. 91,238 shares of the company's stock traded hands, compared to its average volume of 133,769. The firm has a fifty day moving average of C$21.92 and a 200 day moving average of C$25.41. Ag Growth International has a 1 year low of C$13.60 and a 1 year high of C$44.84. The company has a debt-to-equity ratio of 408.06, a quick ratio of 0.84 and a current ratio of 1.28. The stock has a market capitalization of C$410.63 million, a price-to-earnings ratio of -15.44, a price-to-earnings-growth ratio of 1.30 and a beta of 1.04.

Ag Growth International (TSE:AFN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C($2.35) earnings per share (EPS) for the quarter. The business had revenue of C$282.17 million during the quarter. Ag Growth International had a negative return on equity of 9.21% and a negative net margin of 1.86%. On average, analysts forecast that Ag Growth International will post 6.5761006 earnings per share for the current year.

Insider Buying and Selling at Ag Growth International

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