ATB Cormark Capital Markets Cuts Ag Growth International (TSE:AFN) Price Target to C$11.00

Ag Growth International (TSE:AFN) had its price objective reduced by analysts at ATB Cormark Capital Markets from C$18.00 to C$11.00 in a report issued on Thursday, BayStreet reports. The firm currently has a “sector perform” rating on the stock. ATB Cormark Capital Markets’ target price suggests a potential upside of 49.46% from the company’s current price.

AFN has been the topic of several other reports. Royal Bank Of Canada decreased 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 report on Friday, July 31st. National Bank Financial reduced their price objective on Ag Growth International from C$20.00 to C$19.00 and set a “sector perform” rating on the stock in a research report on Friday, July 31st. Desjardins cut their price target on 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. Finally, TD Securities cut Ag Growth International from a “strong-buy” rating to a “hold” rating in a report on Monday. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$22.78.

Ag Growth International Price Performance

Shares of AFN stock traded down C$0.54 during trading hours on Thursday, reaching C$7.36. The company’s stock had a trading volume of 91,029 shares, compared to its average volume of 142,616. Ag Growth International has a fifty-two week low of C$5.80 and a fifty-two week high of C$38.09. The firm’s 50 day simple moving average is C$13.78 and its 200-day simple moving average is C$18.38. The company has a quick ratio of 0.84, a current ratio of 1.30 and a debt-to-equity ratio of 541.43. The company has a market capitalization of C$138.96 million, a price-to-earnings ratio of -1.18, a PEG ratio of 1.30 and a beta of 1.15.

Ag Growth International (TSE:AFN) last announced its quarterly earnings data 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 for the quarter. Ag Growth International had a negative return on equity of 48.31% and a negative net margin of 8.43%. Sell-side analysts forecast that Ag Growth International will post 6.5761006 earnings per share for the current year.

Insider Activity

In other news, Director Gary Keith Anderson purchased 21,865 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average price of C$13.72 per share, for a total transaction of C$299,987.80. Following the purchase, the director directly owned 106,990 shares of the company’s stock, valued at C$1,467,902.80. This represents a 25.69% increase in their position. 1.06% of the stock is currently owned by company insiders.

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.