Ag Growth International (TSE:AFN) Shares Climb 31.7% – Here’s What Happened

Ag Growth International Inc. (TSE:AFN)’s share price traded up 31.7% on Wednesday. The company traded as high as C$8.90 and last traded at C$8.15. Approximately 623,678 shares traded hands during trading, an increase of 341% from the average session volume of 141,531 shares. The stock had previously closed at C$6.19.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. TD Securities downgraded Ag Growth International from a “strong-buy” rating to a “hold” rating in a research note on Monday. Desjardins cut their target price 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. ATB Cormark Capital Markets reduced their price target on shares of Ag Growth International from C$18.00 to C$11.00 and set a “sector perform” rating for the company in a report on Thursday. Royal Bank Of Canada lowered their price target on shares of Ag Growth International from C$30.00 to C$20.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Finally, National Bank Financial dropped their price objective 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. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Ag Growth International presently has a consensus rating of “Hold” and an average price target of C$22.78.

Ag Growth International Trading Down 7.7%

The business’s 50 day moving average price is C$13.54 and its two-hundred day moving average price is C$18.25. 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 company has a market capitalization of C$137.64 million, a price-to-earnings ratio of -1.17, a price-to-earnings-growth ratio of 1.30 and a beta of 1.15.

Ag Growth International (TSE:AFN) last posted its quarterly earnings data on Wednesday, July 29th. The company reported C($2.06) EPS for the quarter. The company had revenue of C$323.18 million for the quarter. Ag Growth International had a negative net margin of 8.43% and a negative return on equity of 48.31%. Equities analysts forecast that Ag Growth International Inc. will post 6.5761006 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gary Keith Anderson purchased 21,865 shares of the stock in a transaction dated 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 transaction, the director owned 106,990 shares in the company, valued at C$1,467,902.80. This trade represents a 25.69% increase in their ownership of the stock. Company insiders own 1.06% of the company’s stock.

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.