Ag Growth International (TSE:AFN) Trading Down 20.6% – What’s Next?

Ag Growth International Inc. (TSE:AFN) shares dropped 20.6% on Thursday . The stock traded as low as C$14.55 and last traded at C$14.92. 660,356 shares were traded during mid-day trading, an increase of 435% from the average session volume of 123,498 shares. The stock had previously closed at C$18.80.

Wall Street Analysts Forecast Growth

AFN has been the subject of several research reports. ATB Cormark Capital Markets increased their price objective on shares of Ag Growth International from C$22.00 to C$25.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. National Bank Financial reduced their target price on shares of 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. Royal Bank Of Canada upgraded shares of Ag Growth International from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$25.00 to C$30.00 in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce increased their price target on shares of Ag Growth International from C$19.00 to C$23.00 in a report on Friday, May 1st. Finally, TD lifted 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. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$27.78.

Ag Growth International Stock Down 21.6%

The company has a fifty day moving average of C$20.68 and a two-hundred day moving average of C$23.30. The company has a market cap of C$278.01 million, a PE ratio of -5.15, a price-to-earnings-growth ratio of 1.30 and a beta of 0.99. The company has a debt-to-equity ratio of 497.80, a quick ratio of 0.84 and a current ratio of 1.35.

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. Ag Growth International had a negative return on equity of 20.06% and a negative net margin of 3.80%.The firm had revenue of C$323.18 million for the quarter. As a group, analysts anticipate that Ag Growth International Inc. will post 6.5761006 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Rohit Bhardwaj purchased 8,500 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of C$24.00 per share, with a total value of C$204,000.00. Following the purchase, the director owned 28,500 shares in the company, valued at approximately C$684,000. This trade 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.