Royal Bank Of Canada Cuts Ag Growth International (TSE:AFN) Price Target to C$20.00

Key Points

• Royal Bank of Canada cut Ag Growth International’s price target from C$30.00 to C$20.00 while maintaining an “outperform” rating, implying roughly 47.8% upside from the C$13.53 share price.
• Analyst sentiment is mixed: four analysts rate the stock a Buy and five rate it Hold, resulting in a consensus “Hold” rating and a C$23.56 average price target.
• Ag Growth reported a quarterly loss of C$2.06 per share on C$323.18 million in revenue, alongside negative profitability metrics and very high debt-to-equity of 497.80%; a company director nevertheless purchased 8,500 shares for C$204,000.

Ag Growth International (TSE:AFN - Get Free Report) had its price target cut by equities research analysts at Royal Bank Of Canada from C$30.00 to C$20.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price indicates a potential upside of 47.82% from the company's current price.

AFN has been the topic of several other reports. 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 report on Tuesday, May 12th. ATB Cormark Capital Markets increased their price target on Ag Growth International from C$22.00 to C$25.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 7th. Canadian Imperial Bank of Commerce increased their price target on Ag Growth International from C$19.00 to C$23.00 in a research note on Friday, May 1st. Finally, National Bank Financial decreased their price target on Ag Growth International from C$24.00 to C$20.00 and set a "sector perform" rating on the stock in a report on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of C$23.56.

Ag Growth International Stock Performance

Ag Growth International stock traded down C$0.79 during midday trading on Friday, hitting C$13.53. The stock had a trading volume of 595,111 shares, compared to its average volume of 130,951. The firm's fifty day moving average is C$20.52 and its two-hundred day moving average is C$23.20. The company has a market capitalization of C$255.19 million, a PE ratio of -4.73, a P/E/G ratio of 1.30 and a beta of 0.99. Ag Growth International has a 52-week low of C$13.46 and a 52-week 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.

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 20.06% and a negative net margin of 3.80%. On average, research analysts forecast that Ag Growth International will post 6.5761006 EPS for the current year.

Insiders Place Their Bets

In related news, Director Rohit Bhardwaj purchased 8,500 shares of Ag Growth International stock in a transaction on 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 acquisition, the director owned 28,500 shares in the company, valued at approximately C$684,000. The trade was a 42.50% increase in their position. Insiders own 1.06% of the company's stock.

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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