Ag Growth International (TSE:AFN) Upgraded at Royal Bank Of Canada

Ag Growth International (TSE:AFN) was upgraded by equities research analysts at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a C$30.00 price target on the stock, up from their prior price target of C$25.00. Royal Bank Of Canada’s price objective suggests a potential upside of 20.63% from the stock’s previous close.

AFN has been the subject of several other research reports. Cormark set a C$35.00 target price on shares of Ag Growth International and gave the stock a “hold” rating in a report on Monday, January 12th. Desjardins dropped their target price on shares of Ag Growth International from C$47.00 to C$40.00 and set a “buy” rating for the company in a report on Monday, January 12th. Canadian Imperial Bank of Commerce upped their target price on shares of Ag Growth International from C$19.00 to C$23.00 in a report on Friday, May 1st. National Bank Financial downgraded shares of Ag Growth International from an “outperform” rating to a “hold” rating and dropped their target price for the stock from C$39.00 to C$24.00 in a report on Wednesday, March 25th. Finally, Raymond James Financial dropped their target price on shares of Ag Growth International from C$30.00 to C$25.00 in a report on Thursday, March 26th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ag Growth International presently has a consensus rating of “Hold” and a consensus price target of C$28.00.

Ag Growth International Price Performance

Ag Growth International stock traded up C$1.17 during mid-day trading on Monday, hitting C$24.87. The stock had a trading volume of 158,762 shares, compared to its average volume of 134,794. The firm has a market capitalization of C$469.07 million, a P/E ratio of -8.70, a P/E/G ratio of 1.30 and a beta of 1.04. The company has a current ratio of 1.35, a quick ratio of 0.84 and a debt-to-equity ratio of 497.80. The firm’s 50 day moving average is C$21.79 and its 200 day moving average is C$25.32. Ag Growth International has a one year low of C$13.60 and a one year high of C$44.84.

Ag Growth International (TSE:AFN) last issued its earnings results on Wednesday, May 6th. The company reported C($2.35) earnings per share for the quarter. The firm had revenue of C$282.17 million during the quarter. Ag Growth International had a negative return on equity of 20.06% and a negative net margin of 3.80%. On average, sell-side analysts forecast that Ag Growth International will post 6.5761006 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Paul Brisebois acquired 32,000 shares of the company’s stock in a transaction on Thursday, March 26th. The stock was acquired at an average price of C$17.09 per share, with a total value of C$546,880.00. Following the acquisition, the insider directly owned 48,086 shares of the company’s stock, valued at approximately C$821,789.74. This trade represents a 198.93% increase in their ownership of the stock. Also, Director Steven Robert Sommerfeld acquired 8,000 shares of the company’s stock in a transaction on Thursday, March 26th. The shares were bought at an average cost of C$17.67 per share, with a total value of C$141,360.00. Following the acquisition, the director directly owned 8,000 shares in the company, valued at approximately C$141,360. The trade was a ∞ increase in their ownership of the stock. 1.06% of the stock is owned by corporate insiders.

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.