AgroFresh Solutions Inc. (AGFS) Rating Lowered to Strong Sell at Zacks Investment Research
AgroFresh Solutions Inc. (NASDAQ:AGFS) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday.
According to Zacks, “AgroFresh Solutions, Inc. is engaged in providing data driven specialty chemical solutions. Its flagship product is the SmartFresh(TM) Quality System, a freshness protection technology proven to maintain firmness, texture and appearance of fruits during storage and transport. AgroFresh Solutions, Inc., formerly known as Boulevard Acquisition Corp., is headquartered in Collegeville, Pennsylvania. “
Separately, Citigroup Inc. lowered AgroFresh Solutions from a “buy” rating to a “neutral” rating and reduced their target price for the company from $7.00 to $2.75 in a report on Thursday, November 10th.
AgroFresh Solutions (NASDAQ:AGFS) opened at 2.22 on Tuesday. The company has a 50-day moving average of $4.55 and a 200-day moving average of $5.31. The company’s market cap is $110.83 million. AgroFresh Solutions has a one year low of $1.96 and a one year high of $6.95.
AgroFresh Solutions (NASDAQ:AGFS) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. AgroFresh Solutions had a negative return on equity of 1.25% and a negative net margin of 27.23%. The business had revenue of $61.20 million for the quarter, compared to analysts’ expectations of $71.47 million. Equities research analysts expect that AgroFresh Solutions will post ($0.85) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Investment Management LLC acquired a new position in shares of AgroFresh Solutions during the second quarter valued at approximately $469,000. BlackRock Advisors LLC raised its position in shares of AgroFresh Solutions by 6.5% in the second quarter. BlackRock Advisors LLC now owns 98,307 shares of the company’s stock valued at $522,000 after buying an additional 5,968 shares during the last quarter. Vanguard Group Inc. raised its position in shares of AgroFresh Solutions by 11.8% in the second quarter. Vanguard Group Inc. now owns 888,372 shares of the company’s stock valued at $4,718,000 after buying an additional 93,980 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of AgroFresh Solutions by 141.3% in the second quarter. Dimensional Fund Advisors LP now owns 91,093 shares of the company’s stock valued at $484,000 after buying an additional 53,336 shares during the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of AgroFresh Solutions by 34.6% in the second quarter. Nationwide Fund Advisors now owns 52,212 shares of the company’s stock valued at $277,000 after buying an additional 13,434 shares during the last quarter. 72.73% of the stock is owned by institutional investors.
AgroFresh Solutions Company Profile
AgroFresh Solutions, Inc, formerly Boulevard Acquisition Corp., is a developer of agricultural technologies that preserve the freshness and value of fresh produce, including apples, pears, kiwifruit, avocados and bananas, as well as flowers. The Company’s principal product, The SmartFresh Quality System (SmartFresh), regulates the post-harvest ripening effects of ethylene, the naturally occurring plant hormone that triggers ripening in certain fruits and vegetables, through technology.
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