Ag Growth International (TSE:AFN) Hits New 52-Week Low - What's Next?

Key Points

• Ag Growth International shares plunged 27.7%, reaching a new 52-week low of C$7.13 before last trading at C$7.29, down from the prior close of C$9.61.
• Analysts recently cut their price targets to between C$18 and C$20, though ratings remain mixed. The consensus rating is “Hold”, with an average target price of C$23.56.
• The company reported a quarterly loss of C$2.06 per share on C$323.18 million in revenue, alongside negative profitability metrics and high leverage. Director Gary Keith Anderson nevertheless purchased nearly 21,865 shares for about C$300,000.

Ag Growth International Inc. (TSE:AFN - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday. The stock traded as low as C$7.13 and last traded at C$7.29, with a volume of 449630 shares trading hands. The stock had previously closed at C$9.61.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AFN shares. ATB Cormark Capital Markets dropped their price target on 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. Desjardins lowered their target price on shares of Ag Growth International from C$25.00 to C$20.00 and set a "buy" rating for the company in a research note on Friday, July 31st. National Bank Financial dropped their target price 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 research report on Friday, July 31st. Finally, Royal Bank Of Canada cut their price target on shares of 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. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of C$23.56.

Ag Growth International Trading Down 27.7%

The company has a 50 day simple moving average of C$14.55 and a two-hundred day simple moving average of C$18.77. The company has a debt-to-equity ratio of 541.43, a quick ratio of 0.84 and a current ratio of 1.30. The firm has a market cap of C$131.22 million, a PE ratio of -1.12, a P/E/G ratio of 1.30 and a beta of 1.15.

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

Insider Buying and Selling

In other Ag Growth International news, Director Gary Keith Anderson acquired 21,865 shares of the firm's stock in a transaction on Friday, July 31st. The stock was acquired at an average cost of C$13.72 per share, for a total transaction of C$299,987.80. Following the purchase, the director owned 106,990 shares in the company, valued at approximately C$1,467,902.80. The trade was a 25.69% increase in their position. Insiders own 1.06% of the company's stock.

Ag Growth International Company Profile

Ag Growth International Inc is a leading manufacturer and supplier of equipment and solutions for the agriculture, fertilizer, feed, food and commercial sectors. With manufacturing facilities and operations on six continents, AGI provides complete systems and services that support producers and processors throughout the agricultural value chain.

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