Ag Growth International (TSE:AFN) Hits New 1-Year Low on Analyst Downgrade

Ag Growth International Inc. (TSE:AFN)’s stock price reached a new 52-week low on Monday after TD Securities downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as C$7.13 and last traded at C$7.29, with a volume of 449630 shares traded. The stock had previously closed at C$9.61.

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada dropped their price target on shares of Ag Growth International from C$30.00 to C$20.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Desjardins dropped their target price on shares of Ag Growth International from C$25.00 to C$20.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. National Bank Financial cut their price target on shares of Ag Growth International from C$20.00 to C$19.00 and set a “sector perform” rating on the stock in a report on Friday, July 31st. Finally, ATB Cormark Capital Markets reduced their price target on shares of Ag Growth International from C$25.00 to C$18.00 and set a “sector perform” rating for the company in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$23.56.

Insider Buying and Selling

In related news, Director Gary Keith Anderson bought 21,865 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average cost of C$13.72 per share, for a total transaction of C$299,987.80. Following the completion of the transaction, the director owned 106,990 shares of the company’s stock, valued at approximately C$1,467,902.80. This trade represents a 25.69% increase in their ownership of the stock. Corporate insiders own 1.06% of the company’s stock.

Ag Growth International Trading Down 11.3%

The company has a debt-to-equity ratio of 541.43, a current ratio of 1.30 and a quick ratio of 0.84. The stock’s 50-day simple moving average is C$14.02 and its two-hundred day simple moving average is C$18.50. The firm has a market capitalization of C$116.87 million, a P/E ratio of -0.99, a price-to-earnings-growth ratio of 1.30 and a beta of 1.15.

Ag Growth International (TSE:AFN) last issued its earnings results 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%. Equities research analysts expect that Ag Growth International Inc. will post 6.5761006 EPS for the current year.

Ag Growth International Company Profile

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.