Ag Growth International (TSE:AFN) Reaches New 1-Year Low After Analyst Downgrade

Ag Growth International Inc. (TSE:AFN) hit a new 52-week low during mid-day trading on Monday after TD Securities downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as C$7.13 and last traded at C$7.29, with a volume of 449630 shares traded. The stock had previously closed at C$9.61.

A number of other equities analysts also recently weighed in on the stock. 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 cut their price target 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. Royal Bank Of Canada decreased their price target on Ag Growth International from C$30.00 to C$20.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Finally, ATB Cormark Capital Markets lowered their price objective on Ag Growth International from C$25.00 to C$18.00 and set a “sector perform” rating for the company in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ag Growth International currently has an average rating of “Hold” and an average price target of C$23.56.

Insider Buying and Selling

In other news, Director Gary Keith Anderson purchased 21,865 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average cost of C$13.72 per share, with a total value of C$299,987.80. Following the purchase, the director owned 106,990 shares in the company, valued at C$1,467,902.80. This represents a 25.69% increase in their ownership of the stock. 1.06% of the stock is owned by insiders.

Ag Growth International Price Performance

The company has a quick ratio of 0.84, a current ratio of 1.30 and a debt-to-equity ratio of 541.43. The business has a 50-day moving average price of C$14.02 and a two-hundred day moving average price of C$18.50. The company has a market capitalization of C$116.87 million, a price-to-earnings ratio of -0.99, a price-to-earnings-growth ratio of 1.30 and a beta of 1.15.

Ag Growth International (TSE:AFN) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C($2.06) earnings per share (EPS) for the quarter. The business had revenue of C$323.18 million during the quarter. Ag Growth International had a negative net margin of 8.43% and a negative return on equity of 48.31%. As a group, research analysts anticipate that Ag Growth International Inc. will post 6.5761006 EPS for the current year.

About Ag Growth International

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.