Ag Growth International (TSE:AFN) Price Target Lowered to C$20.00 at Desjardins

Ag Growth International (TSE:AFN) had its price target lowered by Desjardins from C$25.00 to C$20.00 in a research note published on Friday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently issued reports on AFN. National Bank Financial cut their price objective on shares of Ag Growth International from C$20.00 to C$19.00 and set a “sector perform” rating for the company in a research report on Friday. ATB Cormark Capital Markets decreased their target price on Ag Growth International from C$25.00 to C$18.00 and set a “sector perform” rating on the stock in a research report on Friday. TD increased their target price on Ag Growth International from C$22.00 to C$30.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada dropped their price target on Ag Growth International from C$30.00 to C$20.00 and set an “outperform” rating for the company in a report on Friday. Finally, Canadian Imperial Bank of Commerce boosted their price target on Ag Growth International from C$19.00 to C$23.00 in a research note on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$23.56.

Ag Growth International Stock Performance

TSE AFN opened at C$13.43 on Friday. The stock has a market cap of C$253.30 million, a PE ratio of -2.16, a P/E/G ratio of 1.30 and a beta of 0.99. 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 50-day moving average of C$20.33 and a 200-day moving average of C$23.13. Ag Growth International has a 52-week low of C$13.25 and a 52-week high of C$44.84.

Ag Growth International (TSE:AFN) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C($2.06) EPS 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. On average, sell-side analysts anticipate that Ag Growth International will post 6.5761006 EPS for the current year.

Insiders Place Their Bets

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

Ag Growth International News Summary

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

Ag Growth International Company Profile

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.