Ag Growth International (TSE:AFN) Given New C$19.00 Price Target at National Bank Financial

Ag Growth International (TSE:AFN) had its price target cut by National Bank Financial from C$20.00 to C$19.00 in a research note released on Friday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other research firms have also recently commented on AFN. 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 research report on Friday, May 1st. Royal Bank Of Canada cut their price target on Ag Growth International from C$30.00 to C$20.00 and set an “outperform” rating on the stock in a report on Friday. TD boosted their price objective 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. Finally, ATB Cormark Capital Markets increased their price objective on Ag Growth International from C$22.00 to C$25.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$23.56.

Ag Growth International Stock Down 6.2%

Ag Growth International stock opened at C$13.43 on Friday. The company has a 50-day simple moving average of C$20.33 and a 200-day simple moving average of C$23.13. The firm has a market capitalization of C$253.30 million, a P/E ratio of -2.16, a P/E/G ratio of 1.30 and a beta of 0.99. The company has a debt-to-equity ratio of 541.43, a quick ratio of 0.84 and a current ratio of 1.30. Ag Growth International has a one year low of C$13.25 and a one year high of C$44.84.

Ag Growth International (TSE:AFN) last released its quarterly earnings data on Wednesday, July 29th. The company reported C($2.06) earnings per share for the quarter. The firm had revenue of C$323.18 million during the quarter. Ag Growth International had a negative return on equity of 48.31% and a negative net margin of 8.43%. As a group, equities analysts expect that Ag Growth International will post 6.5761006 earnings per share for the current year.

Insider Buying and Selling at Ag Growth International

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

Key Ag Growth International News

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.