Insider Buying: Ag Growth International (TSE:AFN) Director Acquires 21,865 Shares of Stock

Key Points

• Director Gary Keith Anderson bought 21,865 shares of Ag Growth International at an average C$13.72 per share, investing nearly C$300,000 and increasing his direct ownership by 25.69% to 106,990 shares.
• Ag Growth International shares fell 1.3% to C$14.56, near the lower end of their 52-week range. The company reported a quarterly loss of C$2.06 per share, C$323.18 million in revenue, and negative profitability metrics.
• Analysts recently cut several price targets, although ratings remain mixed. The stock has a consensus “Hold” rating and an average target price of C$23.56.

Ag Growth International Inc. (TSE:AFN - Get Free Report) Director Gary Keith Anderson acquired 21,865 shares of the firm's stock in a transaction on Friday, July 31st. The shares were acquired at an average price of C$13.72 per share, with a total value of C$299,987.80. Following the completion of the transaction, the director directly owned 106,990 shares in the company, valued at approximately C$1,467,902.80. This trade represents a 25.69% increase in their position.

Ag Growth International Stock Down 1.3%

Shares of AFN traded down C$0.19 during trading hours on Wednesday, reaching C$14.56. The company's stock had a trading volume of 104,759 shares, compared to its average volume of 133,422. The firm has a market cap of C$274.62 million, a price-to-earnings ratio of -2.34, a P/E/G ratio of 1.30 and a beta of 0.94. Ag Growth International Inc. has a 1-year low of C$13.25 and a 1-year high of C$44.24. 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 company has a 50 day moving average of C$19.97 and a two-hundred day moving average of C$22.91.

Ag Growth International (TSE:AFN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C($2.06) EPS for the quarter. The company 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, research analysts predict that Ag Growth International Inc. will post 6.5761006 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AFN shares. ATB Cormark Capital Markets dropped their price target on shares of Ag Growth International from C$25.00 to C$18.00 and set a "sector perform" rating on the stock in a research note on Friday, July 31st. Royal Bank Of Canada lowered their target price on 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 dropped their target price on 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. TD raised their price target on Ag Growth International from C$22.00 to C$30.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce raised their price target on Ag Growth International from C$19.00 to C$23.00 in a research note on Friday, May 1st. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of C$23.56.

About Ag Growth International

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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