TD Securities Cuts Ag Growth International (TSE:AFN) Price Target to C$22.00

Key Points

• TD Securities cut its price target on Ag Growth International from C$41.00 to C$22.00 while maintaining a buy rating, with the new target implying about a 24.5% upside from the prior close.
• Analyst views are mixed — several firms trimmed targets (CIBC to C$18, National Bank to C$24 and down to "hold") while RBC raised its target to C$30; the consensus is a Hold with an average target of C$28.75 (3 Buys, 5 Holds).
• Shares rose 4.6% to C$17.67 on heavy volume, but the company shows signs of stress: market cap C$332M, negative P/E (-36.8), very high debt-to-equity (307.12), and a C($2.62) EPS in the most recent quarter.

Ag Growth International (TSE:AFN - Get Free Report) had its price objective cut by analysts at TD Securities from C$41.00 to C$22.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. TD Securities' price objective suggests a potential upside of 24.50% from the stock's previous close.

Several other analysts also recently weighed in on AFN. Canadian Imperial Bank of Commerce decreased their price objective on Ag Growth International from C$32.00 to C$18.00 in a report on Thursday. National Bank Financial lowered Ag Growth International from an "outperform" rating to a "hold" rating and reduced their price target for the stock from C$39.00 to C$24.00 in a research report on Wednesday. Royal Bank Of Canada boosted their price target on Ag Growth International from C$25.00 to C$30.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 13th. Desjardins dropped their price objective on Ag Growth International from C$47.00 to C$40.00 and set a "buy" rating on the stock in a research report on Monday, January 12th. Finally, Cormark set a C$35.00 target price on Ag Growth International and gave the company a "hold" rating in a research note on Monday, January 12th. Three research 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 company presently has a consensus rating of "Hold" and an average target price of C$28.75.

Ag Growth International Trading Up 4.6%

Shares of TSE:AFN traded up C$0.78 on Thursday, hitting C$17.67. 313,221 shares of the company's stock were exchanged, compared to its average volume of 145,626. Ag Growth International has a 12 month low of C$13.60 and a 12 month high of C$44.84. The stock has a market capitalization of C$332.36 million, a price-to-earnings ratio of -36.81, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The business's 50 day simple moving average is C$27.98 and its two-hundred day simple moving average is C$29.15. The company has a debt-to-equity ratio of 307.12, a current ratio of 1.70 and a quick ratio of 0.84.

Ag Growth International (TSE:AFN - Get Free Report) last posted its quarterly earnings results on Wednesday, March 25th. The company reported C($2.62) EPS for the quarter. The company had revenue of C$395.77 million during the quarter. Ag Growth International had a negative return on equity of 3.11% and a negative net margin of 0.66%. Analysts anticipate that Ag Growth International will post 6.5761006 EPS for the current fiscal year.

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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