Royal Bank Of Canada Cuts Ag Growth International (TSE:AFN) Price Target to C$20.00

Ag Growth International (TSE:AFN) had its price target reduced by analysts at Royal Bank Of Canada from C$30.00 to C$20.00 in a research report issued on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 47.82% from the stock’s current price.

A number of other brokerages also recently commented on AFN. TD increased their price target on shares of Ag Growth International from C$22.00 to C$30.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. National Bank Financial decreased their price objective on Ag Growth International from C$24.00 to C$20.00 and set a “sector perform” rating on the stock in a research report on Monday, July 13th. ATB Cormark Capital Markets upped their price objective on Ag Growth International from C$22.00 to C$25.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Finally, Canadian Imperial Bank of Commerce raised their price objective on Ag Growth International from C$19.00 to C$23.00 in a research note on Friday, May 1st. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$23.56.

Ag Growth International Price Performance

Shares of AFN traded down C$0.79 during mid-day trading on Friday, hitting C$13.53. 595,111 shares of the stock were exchanged, compared to its average volume of 130,951. The company has a market cap of C$255.19 million, a PE ratio of -4.73, a price-to-earnings-growth ratio of 1.30 and a beta of 0.99. Ag Growth International has a 52-week low of C$13.46 and a 52-week high of C$44.84. The firm has a 50-day moving average of C$20.52 and a two-hundred day moving average of C$23.20. The company has a debt-to-equity ratio of 497.80, a quick ratio of 0.84 and a current ratio of 1.35.

Ag Growth International (TSE:AFN) last posted its earnings results on Wednesday, July 29th. The company reported C($2.06) earnings per share for the quarter. Ag Growth International had a negative net margin of 3.80% and a negative return on equity of 20.06%. The business had revenue of C$323.18 million during the quarter. On average, equities analysts predict that Ag Growth International will post 6.5761006 earnings per share for the current year.

Insider Activity at Ag Growth International

In other news, Director Rohit Bhardwaj purchased 8,500 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of C$24.00 per share, with a total value of C$204,000.00. Following the purchase, the director owned 28,500 shares in the company, valued at approximately C$684,000. This trade represents a 42.50% increase in their ownership of the stock. Corporate insiders own 1.06% of the company’s stock.

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.