AGT Food and Ingredients (AGT) Shares Down 0.8% on Analyst Downgrade
AGT Food and Ingredients Inc (TSE:AGT)’s share price dropped 0.8% on Tuesday after Raymond James Financial lowered their price target on the stock from C$22.00 to C$21.00. Raymond James Financial currently has a market perform rating on the stock. AGT Food and Ingredients traded as low as C$21.75 and last traded at C$21.88. Approximately 83,235 shares traded hands during mid-day trading, an increase of 17% from the average daily volume of 71,350 shares. The stock had previously closed at C$22.06.
A number of other equities analysts have also recently commented on AGT. Scotiabank reduced their price target on AGT Food and Ingredients from C$23.00 to C$21.50 and set a “sector perform” rating for the company in a report on Tuesday, November 7th. BMO Capital Markets reduced their price target on AGT Food and Ingredients from C$35.00 to C$27.50 in a report on Tuesday, November 7th. CIBC reduced their price target on AGT Food and Ingredients from C$28.00 to C$24.00 in a report on Tuesday, November 7th. National Bank Financial reduced their price target on AGT Food and Ingredients from C$33.00 to C$25.00 and set an “outperform” rating for the company in a report on Tuesday, November 7th. Finally, AltaCorp Capital cut AGT Food and Ingredients from a “sector perform” rating to an “underperform” rating in a report on Monday, November 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of C$23.80.
The firm has a market capitalization of $628.07, a price-to-earnings ratio of -15.20 and a beta of 0.22.
About AGT Food and Ingredients
AGT Food and Ingredients Inc (AGT), formerly Alliance Grain Traders Inc, is a processor and splitter of pulse crops. The Company is engaged in pulse and staple food processing and distribution, with processing facilities and sales offices located around the world. It operates in three segments: Pulse and Grain Processing, which includes the operations of AGT subsidiaries and facilities in Canada, the United States, Australia, China and a portion of the operations in Turkey; Trading and Distribution, which includes operations in Europe, Russia, India and a portion of the operations in Canada, Turkey and Australia, and Food Ingredients and Packaged Foods, which include subsidiaries and facilities in the United States, Canada, South Africa and a portion of the operations in Turkey.
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