Ag Growth International (TSE:AFN) Shares Climb 17.9% – What’s Next?

Ag Growth International Inc. (TSE:AFN)’s share price traded up 17.9% on Wednesday. The stock traded as high as C$11.00 and last traded at C$10.28. Approximately 313,568 shares traded hands during trading, an increase of 111% from the average daily volume of 148,339 shares. The stock had previously closed at C$8.72.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Desjardins reduced their price target on shares of Ag Growth International from C$25.00 to C$20.00 and set a “buy” rating for the company in a research report on Friday, July 31st. National Bank Financial decreased their price objective on shares of Ag Growth International from C$19.00 to C$11.00 and set a “sector perform” rating for the company in a research note on Thursday, October 15th. Royal Bank Of Canada dropped their price objective on shares of Ag Growth International from C$30.00 to C$20.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. TD Securities lowered shares of Ag Growth International from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Finally, ATB Cormark Capital Markets cut their price objective on shares of Ag Growth International from C$18.00 to C$11.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 1st. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$21.89.

Ag Growth International Price Performance

The company has a current ratio of 1.30, a quick ratio of 0.84 and a debt-to-equity ratio of 541.43. The stock has a market capitalization of C$186.35 million, a price-to-earnings ratio of -1.58, a PEG ratio of 1.30 and a beta of 1.56. The stock has a 50-day moving average price of C$10.61 and a 200 day moving average price of C$19.42.

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 48.31% and a negative net margin of 8.43%. As a group, equities research analysts expect that Ag Growth International Inc. will post 6.58 earnings per share for the current year.

About Ag Growth International

Ag Growth International Inc is a leading manufacturer and supplier of equipment and solutions for the agriculture, fertilizer, feed, food and commercial sectors. With manufacturing facilities and operations on six continents, AGI provides complete systems and services that support producers and processors throughout the agricultural value chain.