National Bank Financial Has Lowered Expectations for Ag Growth International (TSE:AFN) Stock Price

Key Points

• National Bank Financial cut its target price on Ag Growth International from C$24.00 to C$20.00, while keeping a sector perform rating on the stock.
• Analyst opinions are mixed: RBC and TD recently raised their ratings/targets, but the overall consensus remains Hold with an average target price of C$27.78.
• The stock traded down 0.7% to C$18.99, and the company reported a recent quarterly loss of C($2.35) EPS on revenue of C$282.17 million.

Ag Growth International (TSE:AFN - Get Free Report) had its target price decreased by investment analysts at National Bank Financial from C$24.00 to C$20.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. National Bank Financial's target price points to a potential upside of 5.32% from the company's previous close.

A number of other equities research analysts have also recently commented on AFN. Royal Bank Of Canada raised Ag Growth International from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from C$25.00 to C$30.00 in a research note on Monday, May 11th. ATB Cormark Capital Markets increased their price objective on shares of Ag Growth International from C$22.00 to C$25.00 and gave the company a "sector perform" rating in a research report on Thursday, May 7th. TD raised their price objective on shares of Ag Growth International from C$22.00 to C$30.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. TD Securities decreased their target price on shares of Ag Growth International from C$41.00 to C$22.00 and set a "buy" rating for the company in a report on Thursday, March 26th. Finally, Canadian Imperial Bank of Commerce upped their target price on shares of 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 issued a Hold rating to the company's stock. Based on data from MarketBeat, Ag Growth International presently has a consensus rating of "Hold" and a consensus target price of C$27.78.

Ag Growth International Trading Down 0.7%

TSE AFN traded down C$0.14 during trading on Monday, hitting C$18.99. The company had a trading volume of 29,740 shares, compared to its average volume of 125,868. The company's fifty day moving average is C$21.64 and its 200-day moving average is C$23.67. Ag Growth International has a one year low of C$13.60 and a one year high of C$44.84. The company has a current ratio of 1.35, a quick ratio of 0.84 and a debt-to-equity ratio of 497.80. The company has a market cap of C$358.17 million, a price-to-earnings ratio of -6.64, a price-to-earnings-growth ratio of 1.30 and a beta of 0.99.

Ag Growth International (TSE:AFN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C($2.35) EPS for the quarter. Ag Growth International had a negative net margin of 3.80% and a negative return on equity of 20.06%. The firm had revenue of C$282.17 million for the quarter. On average, sell-side analysts predict that Ag Growth International will post 6.5761006 earnings per share for the current year.

Insider Activity at Ag Growth International

In other Ag Growth International news, Director Rohit Bhardwaj acquired 8,500 shares of Ag Growth International stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of C$24.00 per share, for a total transaction of C$204,000.00. Following the acquisition, the director owned 28,500 shares of the company's stock, valued at C$684,000. This represents a 42.50% increase in their ownership of the stock. 1.06% of the stock is owned by company 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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