Insider Buying: Ag Growth International (TSE:AFN) Insider Purchases 32,000 Shares of Stock

Key Points

• Insider purchase: Director Paul Brisebois bought 32,000 shares on March 26 at C$17.09 each (C$546,880), raising his holdings to 48,086 shares — a 198.93% increase.
• Company and stock snapshot: AFN traded at C$18.49 (up C$0.50), has a market cap of C$348.7M, a 52-week range of C$13.60–C$44.84, a negative trailing P/E (-13.11) and a very high debt-to-equity ratio (408.06), indicating elevated leverage and recent losses.
• Analyst sentiment: Several firms have reduced ratings or price targets recently while RBC raised its target to C$30; the MarketBeat consensus is a Hold with an average price target of C$28.75.

Ag Growth International Inc. (TSE:AFN - Get Free Report) insider Paul Brisebois acquired 32,000 shares of the business's stock in a transaction that occurred on Thursday, March 26th. The shares were purchased at an average price of C$17.09 per share, with a total value of C$546,880.00. Following the completion of the acquisition, the insider owned 48,086 shares of the company's stock, valued at C$821,789.74. This represents a 198.93% increase in their position.

Ag Growth International Stock Up 2.8%

AFN traded up C$0.50 during trading on Monday, reaching C$18.49. 188,443 shares of the stock traded hands, compared to its average volume of 149,330. The stock's 50-day simple moving average is C$27.52 and its two-hundred day simple moving average is C$28.77. The company has a debt-to-equity ratio of 408.06, a current ratio of 1.28 and a quick ratio of 0.84. Ag Growth International Inc. has a fifty-two week low of C$13.60 and a fifty-two week high of C$44.84. The stock has a market cap of C$348.72 million, a price-to-earnings ratio of -13.11, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52.

Ag Growth International (TSE:AFN - Get Free Report) last issued its earnings results on Wednesday, March 25th. The company reported C($2.62) earnings per share for the quarter. The firm had revenue of C$395.77 million during the quarter. Ag Growth International had a negative return on equity of 9.21% and a negative net margin of 1.86%. As a group, equities research analysts expect that Ag Growth International Inc. will post 6.5761006 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada raised their price objective on shares of Ag Growth International from C$25.00 to C$30.00 and gave the company a "sector perform" rating in a research report on Tuesday, January 13th. ATB Cormark Capital Markets lowered shares of Ag Growth International from a "strong-buy" rating to a "moderate buy" rating and set a C$36.00 price target on the stock. in a research note on Wednesday, March 25th. Canadian Imperial Bank of Commerce cut their price target on shares of Ag Growth International from C$32.00 to C$18.00 in a report on Thursday. Desjardins reduced their price objective on shares of Ag Growth International from C$47.00 to C$40.00 and set a "buy" rating for the company in a research note on Monday, January 12th. Finally, National Bank Financial cut shares of Ag Growth International from an "outperform" rating to a "hold" rating and decreased their price objective for the stock from C$39.00 to C$24.00 in a report on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of C$28.75.

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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