National Bank Financial Issues Pessimistic Forecast for Ag Growth International (TSE:AFN) Stock Price

Key Points

• National Bank Financial cut Ag Growth International’s price target to C$19 from C$20 while maintaining a “sector perform” rating, implying roughly 40% upside from the C$13.53 share price.
• Analyst sentiment is mixed, with four Buy ratings and five Holds; the consensus rating is “Hold” and the average target price is C$23.56.
• Shares traded near their one-year low, while the company reported a quarterly loss of C$2.06 per share, negative net margin and return on equity, and a high debt-to-equity ratio of 497.8%.

Ag Growth International (TSE:AFN - Get Free Report) had its target price reduced by equities researchers at National Bank Financial from C$20.00 to C$19.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bank Financial's target price suggests a potential upside of 40.43% from the company's current price.

Other equities research analysts also recently issued reports about the company. Royal Bank Of Canada decreased 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 report on Friday. TD upped their price target on Ag Growth International from C$22.00 to C$30.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce raised their price objective on Ag Growth International from C$19.00 to C$23.00 in a research report on Friday, May 1st. Finally, ATB Cormark Capital Markets lifted their price objective on Ag Growth International from C$22.00 to C$25.00 and gave the stock a "sector perform" rating in a report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of C$23.56.

Ag Growth International Stock Performance

Shares of AFN stock traded down C$0.79 during trading on Friday, reaching C$13.53. The company had a trading volume of 595,111 shares, compared to its average volume of 130,951. The firm's 50 day simple moving average is C$20.52 and its two-hundred day simple moving average 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. Ag Growth International has a one year low of C$13.46 and a one year high of C$44.84. The company has a market capitalization of C$255.19 million, a PE ratio of -4.73, a PEG ratio of 1.30 and a beta of 0.99.

Ag Growth International (TSE:AFN - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported C($2.06) earnings per share 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 for the quarter. Sell-side 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 related news, Director Rohit Bhardwaj acquired 8,500 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average cost of C$24.00 per share, for a total transaction of C$204,000.00. Following the purchase, the director owned 28,500 shares in the company, valued at approximately C$684,000. This trade represents a 42.50% increase in their position. Company 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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