Ag Growth International (TSE:AFN) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Ag Growth International (TSE:AFN) had its price objective increased by Canadian Imperial Bank of Commerce from C$19.00 to C$23.00 in a report released on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price would indicate a potential upside of 13.36% from the stock’s previous close.

AFN has been the topic of a number of other reports. Cormark set a C$35.00 price objective on shares of Ag Growth International and gave the company a “hold” rating in a report on Monday, January 12th. TD Securities lowered their price objective on shares of Ag Growth International from C$41.00 to C$22.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. National Bank Financial downgraded shares of Ag Growth International from an “outperform” rating to a “hold” rating and lowered their price objective for the company from C$39.00 to C$24.00 in a report on Wednesday, March 25th. Desjardins lowered their price objective on shares of Ag Growth International from C$47.00 to C$40.00 and set a “buy” rating on the stock in a report on Monday, January 12th. Finally, Royal Bank Of Canada decreased their target price on shares of Ag Growth International from C$30.00 to C$20.00 in a research note on Wednesday, April 1st. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of C$28.13.

Ag Growth International Stock Up 4.6%

Shares of TSE AFN traded up C$0.89 during midday trading on Friday, reaching C$20.29. The company’s stock had a trading volume of 115,698 shares, compared to its average volume of 135,926. The company has a current ratio of 1.28, a quick ratio of 0.84 and a debt-to-equity ratio of 408.06. Ag Growth International has a fifty-two week low of C$13.60 and a fifty-two week high of C$44.84. The stock has a market capitalization of C$382.67 million, a price-to-earnings ratio of -14.39, a PEG ratio of 1.30 and a beta of 1.11. The stock has a 50 day simple moving average of C$22.29 and a 200-day simple moving average of C$25.75.

Ag Growth International (TSE:AFN) last posted its quarterly earnings data on Wednesday, March 25th. The company reported C($2.62) earnings per share (EPS) for the quarter. Ag Growth International had a negative net margin of 1.86% and a negative return on equity of 9.21%. The business had revenue of C$395.77 million during the quarter. Equities research analysts predict that Ag Growth International will post 6.5761006 earnings per share for the current year.

Insider Activity

In other Ag Growth International news, insider Paul Brisebois bought 32,000 shares of the stock in a transaction on Thursday, March 26th. The stock was purchased at an average price of C$17.09 per share, with a total value of C$546,880.00. Following the completion of the purchase, the insider owned 48,086 shares in the company, valued at C$821,789.74. The trade was a 198.93% increase in their ownership of the stock. Also, Director Steven Robert Sommerfeld bought 8,000 shares of the stock in a transaction on Thursday, March 26th. The shares were acquired at an average cost of C$17.67 per share, with a total value of C$141,360.00. Following the purchase, the director owned 8,000 shares of the company’s stock, valued at approximately C$141,360. This represents a ∞ increase in their position. 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.