Ag Growth International (TSE:AFN) Given New C$20.00 Price Target at Royal Bank Of Canada

Ag Growth International (TSE:AFN) had its target price cut by Royal Bank Of Canada from C$30.00 to C$20.00 in a research report sent to investors on Friday,BayStreet.CA reports. They currently have an outperform rating on the stock.

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

Ag Growth International Stock Performance

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

Ag Growth International (TSE:AFN) last announced its quarterly 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 8.43% and a negative return on equity of 48.31%. The company had revenue of C$323.18 million during the quarter. Sell-side analysts anticipate that Ag Growth International will post 6.5761006 EPS for the current year.

Insider Transactions at Ag Growth International

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

Ag Growth International News Roundup

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

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.