ATB Cormark Capital Markets Issues Pessimistic Forecast for Ag Growth International (TSE:AFN) Stock Price

Ag Growth International (TSE:AFN) had its price objective dropped by stock analysts at ATB Cormark Capital Markets from C$25.00 to C$18.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. ATB Cormark Capital Markets’ price target suggests a potential upside of 33.04% from the company’s current price.

Several other research analysts also recently weighed in on the company. TD upped their target price on Ag Growth International from C$22.00 to C$30.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada cut their price target on shares of Ag Growth International from C$30.00 to C$20.00 and set an “outperform” rating for the company in a report on Friday. National Bank Financial reduced their price objective on shares of Ag Growth International from C$20.00 to C$19.00 and set a “sector perform” rating for the company in a research report on Friday. Finally, Canadian Imperial Bank of Commerce increased their price objective on shares of Ag Growth International from C$19.00 to C$23.00 in a report on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$23.56.

Ag Growth International Price Performance

Shares of Ag Growth International stock traded down C$0.79 on Friday, hitting C$13.53. The company’s stock had a trading volume of 595,111 shares, compared to its average volume of 130,951. 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 has a 1 year low of C$13.46 and a 1 year high of C$44.84. The firm has a fifty day moving average price of C$20.52 and a 200-day moving average price of C$23.20. The company has a market capitalization of C$255.19 million, a price-to-earnings ratio of -4.73, a price-to-earnings-growth ratio of 1.30 and a beta of 0.99.

Ag Growth International (TSE:AFN) last released its quarterly earnings results on Wednesday, July 29th. The company reported C($2.06) earnings per share for the quarter. The business had revenue of C$323.18 million during the quarter. Ag Growth International had a negative return on equity of 20.06% and a negative net margin of 3.80%. As a group, sell-side analysts anticipate that Ag Growth International will post 6.5761006 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ag Growth International news, Director Rohit Bhardwaj bought 8,500 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average price of C$24.00 per share, with a total value of C$204,000.00. Following the purchase, the director directly owned 28,500 shares in the company, valued at C$684,000. This trade represents a 42.50% increase in their position. 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.