ATB Cormark Capital Markets Lowers Ag Growth International (TSE:AFN) Price Target to C$18.00

Key Points

• ATB Cormark cut Ag Growth International’s price target from C$25.00 to C$18.00 while maintaining a “sector perform” rating, implying approximately 33% upside from the stock’s current price.
• Shares fell to C$13.53 on Friday, near their one-year low of C$13.46. Analysts have an overall “Hold” consensus and an average price target of C$23.56.
• The company reported a quarterly loss of C$2.06 per share on revenue of C$323.18 million, while director Rohit Bhardwaj purchased 8,500 shares worth C$204,000 in May.

Ag Growth International (TSE:AFN - Get Free Report) had its price objective dropped by research analysts at ATB Cormark Capital Markets from C$25.00 to C$18.00 in a research report issued on Friday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. ATB Cormark Capital Markets' target price indicates a potential upside of 33.04% from the stock's current price.

AFN has been the subject of a number of other 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. National Bank Financial dropped their price objective on shares of Ag Growth International from C$20.00 to C$19.00 and set a "sector perform" rating on the stock in a report on Friday. 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. 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 research report on Friday. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Ag Growth International currently has an average rating of "Hold" and a consensus price target of C$23.56.

Ag Growth International Stock Performance

Ag Growth International stock traded down C$0.79 during trading hours on Friday, hitting C$13.53. 595,111 shares of the stock traded hands, compared to its average volume of 130,951. The firm's 50 day moving average price is C$20.52 and its 200-day moving average price is C$23.20. The company has a debt-to-equity ratio of 497.80, a current ratio of 1.35 and a quick ratio of 0.84. The stock has a market capitalization of C$255.19 million, a price-to-earnings ratio of -4.73, a P/E/G ratio of 1.30 and a beta of 0.99. Ag Growth International has a 1 year low of C$13.46 and a 1 year high of C$44.84.

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

Insider Activity at Ag Growth International

In other news, Director Rohit Bhardwaj acquired 8,500 shares of the company's stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of C$24.00 per share, with a total value of C$204,000.00. Following the purchase, the director directly owned 28,500 shares of the company's stock, valued at C$684,000. This trade represents a 42.50% increase in their ownership of the stock. 1.06% of the stock is owned by insiders.

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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