Ag Growth International (TSE:AFN) Price Target Cut to C$18.00 by Analysts at ATB Cormark Capital Markets

Ag Growth International (TSE:AFN) had its target price cut by ATB Cormark Capital Markets from C$25.00 to C$18.00 in a report released on Friday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other brokerages also recently commented on AFN. National Bank Financial dropped their price objective on Ag Growth International from C$20.00 to C$19.00 and set a “sector perform” rating on the stock in a research note on Friday. Canadian Imperial Bank of Commerce boosted their target price on Ag Growth International from C$19.00 to C$23.00 in a research note on Friday, May 1st. Royal Bank Of Canada lowered 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. Finally, TD raised their price target on Ag Growth International from C$22.00 to C$30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Ag Growth International presently has a consensus rating of “Hold” and a consensus target price of C$23.56.

Ag Growth International Stock Down 6.2%

Shares of TSE:AFN opened at C$13.43 on Friday. The company has a 50 day moving average price of C$20.33 and a two-hundred day moving average price of C$23.13. 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 company has a market capitalization of C$253.30 million, a PE ratio of -2.16, a PEG ratio of 1.30 and a beta of 0.99. Ag Growth International has a 52 week low of C$13.25 and a 52 week high of C$44.84.

Ag Growth International (TSE:AFN) last announced its quarterly 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 48.31% and a negative net margin of 8.43%.The firm had revenue of C$323.18 million for the quarter. Analysts forecast that Ag Growth International will post 6.5761006 earnings per share for the current year.

Insider Activity

In related news, Director Rohit Bhardwaj acquired 8,500 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of C$24.00 per share, for a total transaction of C$204,000.00. Following the completion of the acquisition, the director directly owned 28,500 shares in the company, valued at approximately C$684,000. The trade was a 42.50% increase in their position. 1.06% of the stock is owned by corporate insiders.

Ag Growth International News Roundup

Here are the key news stories impacting Ag Growth International this week:

• Positive Sentiment: Despite reducing its target to C$20 from C$30, RBC retained an “outperform” rating. The revised target still implies considerable potential upside from recent levels. Ticker Report analyst rating
• Positive Sentiment: Desjardins lowered its target to C$20 from C$25 but maintained a “buy” rating, suggesting the firm views the recent weakness as an opportunity if the company’s performance improves. BayStreet.CA analyst ratings
• Neutral Sentiment: National Bank Financial cut its target to C$19 from C$20 and kept a “sector perform” rating, while ATB Cormark reduced its target to C$18 from C$25 and also rated the shares “sector perform.” These ratings indicate expectations for performance broadly in line with the sector. BayStreet.CA analyst ratings
• Negative Sentiment: The widespread target cuts point to lower near-term expectations across the analyst community, even though the revised targets remain above the current share price.
• Negative Sentiment: Ag Growth reported a quarterly loss of C$2.06 per share on revenue of C$323.18 million. Its negative 3.80% net margin and 20.06% negative return on equity reinforce concerns about profitability and financial performance. Ag Growth International quarterly earnings report

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.