Ag Growth International (TSE:AFN) Price Target Cut to C$20.00 by Analysts at Royal Bank Of Canada

Ag Growth International (TSE:AFN) had its price objective dropped by Royal Bank Of Canada from C$30.00 to C$20.00 in a report released on Wednesday,BayStreet.CA reports. Royal Bank Of Canada’s price objective indicates a potential upside of 7.01% from the stock’s current price.

AFN has been the subject of several other reports. Raymond James Financial reduced their price objective on Ag Growth International from C$30.00 to C$25.00 in a report on Thursday, March 26th. Desjardins lowered their price target on shares of Ag Growth International from C$47.00 to C$40.00 and set a “buy” rating on the stock in a research 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 target on the stock. in a research note on Wednesday, March 25th. TD Securities cut their price target on Ag Growth International from C$41.00 to C$22.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Finally, Canadian Imperial Bank of Commerce reduced their target price on Ag Growth International from C$32.00 to C$18.00 in a report on Thursday, March 26th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$27.50.

Ag Growth International Stock Performance

Shares of TSE AFN traded down C$0.31 during midday trading on Wednesday, reaching C$18.69. The company’s stock had a trading volume of 112,754 shares, compared to its average volume of 151,869. The stock has a market capitalization of C$352.49 million, a P/E ratio of -13.26, a PEG ratio of 1.30 and a beta of 0.52. The company has a debt-to-equity ratio of 408.06, a current ratio of 1.28 and a quick ratio of 0.84. The firm has a 50 day moving average price of C$27.08 and a 200-day moving average price of C$28.48. Ag Growth International has a 12-month low of C$13.60 and a 12-month high of C$44.84.

Ag Growth International (TSE:AFN) last announced its earnings results on Wednesday, March 25th. The company reported C($2.62) earnings per share (EPS) for the quarter. The business had revenue of C$395.77 million for the quarter. Ag Growth International had a negative net margin of 1.86% and a negative return on equity of 9.21%. As a group, equities analysts predict that Ag Growth International will post 6.5761006 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Paul Brisebois acquired 32,000 shares of the stock in a transaction dated Thursday, March 26th. The shares were purchased at an average price of C$17.09 per share, for a total transaction of C$546,880.00. Following the transaction, the insider owned 48,086 shares in the company, valued at C$821,789.74. This represents a 198.93% increase in their position. Also, Director Steven Robert Sommerfeld purchased 8,000 shares of the stock in a transaction on Thursday, March 26th. The shares were purchased at an average price of C$17.67 per share, for a total transaction of C$141,360.00. Following the transaction, the director directly owned 8,000 shares of the company’s stock, valued at approximately C$141,360. This represents a ∞ increase in their ownership of the stock. 1.06% of the stock is owned by corporate insiders.

About Ag Growth International

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.