Ag Growth International (TSE:AFN) Announces Earnings Results

Ag Growth International (TSE:AFN) announced its quarterly earnings data on Wednesday. The company reported C($2.06) EPS for the quarter, FiscalAI reports. The firm had revenue of C$323.18 million during the quarter. Ag Growth International had a negative net margin of 3.80% and a negative return on equity of 20.06%.

Ag Growth International Stock Down 5.6%

Ag Growth International stock traded down C$1.11 during midday trading on Wednesday, reaching C$18.80. The stock had a trading volume of 100,662 shares, compared to its average volume of 120,115. The firm’s fifty day simple moving average is C$20.75 and its 200-day simple moving average is C$23.33. The company has a debt-to-equity ratio of 497.80, a quick ratio of 0.84 and a current ratio of 1.35. The stock has a market capitalization of C$354.59 million, a P/E ratio of -6.57, a price-to-earnings-growth ratio of 1.30 and a beta of 0.99. Ag Growth International has a 1-year low of C$13.60 and a 1-year high of C$44.84.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. ATB Cormark Capital Markets lifted their target price on shares of Ag Growth International from C$22.00 to C$25.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Royal Bank Of Canada raised Ag Growth International from a “sector perform” rating to an “outperform” rating and increased their price target for the company from C$25.00 to C$30.00 in a research note on Monday, May 11th. TD raised their price target on Ag Growth International from C$22.00 to C$30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Canadian Imperial Bank of Commerce lifted their price objective on Ag Growth International from C$19.00 to C$23.00 in a research note on Friday, May 1st. Finally, National Bank Financial reduced their target price on Ag Growth International from C$24.00 to C$20.00 and set a “sector perform” rating on the stock in a report on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$27.78.

Insiders Place Their Bets

In other Ag Growth International news, Director Rohit Bhardwaj purchased 8,500 shares of the stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of C$24.00 per share, for a total transaction of C$204,000.00. Following the purchase, the director owned 28,500 shares of the company’s stock, valued at approximately C$684,000. This represents a 42.50% 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 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.