Canadian Imperial Bank of Commerce Cuts Ag Growth International (TSE:AFN) Price Target to C$18.00

Ag Growth International (TSE:AFN) had its price target dropped by investment analysts at Canadian Imperial Bank of Commerce from C$32.00 to C$18.00 in a report released on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target suggests a potential upside of 1.87% from the stock’s previous close.

Several other analysts have also recently weighed in on AFN. Cormark set a C$35.00 price objective on Ag Growth International and gave the stock a “hold” rating in a report on Monday, January 12th. Desjardins cut their target price on shares of Ag Growth International from C$47.00 to C$40.00 and set a “buy” rating on the stock in a report on Monday, January 12th. ATB Cormark Capital Markets cut shares of Ag Growth International from a “strong-buy” rating to a “moderate buy” rating and set a C$36.00 price objective for the company. in a research report on Wednesday. TD Securities set a C$41.00 target price on Ag Growth International and gave the company a “buy” rating in a research note on Tuesday, January 13th. Finally, Raymond James Financial decreased their price objective on Ag Growth International from C$30.00 to C$25.00 in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$28.75.

Ag Growth International Price Performance

Shares of Ag Growth International stock traded up C$0.78 during midday trading on Thursday, hitting C$17.67. 313,221 shares of the company were exchanged, compared to its average volume of 145,626. The firm has a market cap of C$332.36 million, a P/E ratio of -36.81, a PEG ratio of 1.30 and a beta of 0.52. The firm has a 50 day simple moving average of C$27.98 and a 200-day simple moving average of C$29.15. Ag Growth International has a 52 week low of C$13.60 and a 52 week high of C$44.84. The company has a debt-to-equity ratio of 307.12, a current ratio of 1.70 and a quick ratio of 0.84.

Ag Growth International (TSE:AFN) last posted its earnings results on Wednesday, March 25th. The company reported C($2.62) earnings per share (EPS) for the quarter. Ag Growth International had a negative net margin of 0.66% and a negative return on equity of 3.11%. The firm had revenue of C$395.77 million during the quarter. Research analysts forecast that Ag Growth International will post 6.5761006 earnings per share for the current year.

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.