Ag Growth International (TSE:AFN) Stock Jumps 17.9% – What’s Next?

Ag Growth International Inc. (TSE:AFN)’s stock price was up 17.9% during trading on Wednesday. The stock traded as high as C$11.00 and last traded at C$10.28. Approximately 313,568 shares traded hands during trading, an increase of 111% from the average session volume of 148,339 shares. The stock had previously closed at C$8.72.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank Of Canada reduced their price target on shares of Ag Growth International from C$30.00 to C$20.00 and set an “outperform” rating for the company in a report on Friday, July 31st. National Bank Financial dropped their price objective on shares of Ag Growth International from C$19.00 to C$11.00 and set a “sector perform” rating on the stock in a report on Thursday, October 15th. Desjardins cut their price objective on shares of Ag Growth International from C$25.00 to C$20.00 and set a “buy” rating for the company in a research report on Friday, July 31st. TD Securities cut shares of Ag Growth International from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Finally, ATB Cormark Capital Markets decreased their target price on Ag Growth International from C$18.00 to C$11.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 1st. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$21.89.

Ag Growth International Trading Up 16.6%

The business has a 50-day moving average price of C$10.75 and a 200-day moving average price of C$19.58. The company has a quick ratio of 0.84, a current ratio of 1.30 and a debt-to-equity ratio of 541.43. The firm has a market capitalization of C$192.01 million, a P/E ratio of -1.63, a PEG ratio of 1.30 and a beta of 1.56.

Ag Growth International (TSE:AFN) last issued its earnings results on Wednesday, July 29th. The company reported C($2.06) EPS for the quarter. The firm had revenue of C$323.18 million during the quarter. Ag Growth International had a negative return on equity of 48.31% and a negative net margin of 8.43%. Analysts anticipate that Ag Growth International Inc. will post 6.58 earnings per share for the current year.

Insider Activity

In other Ag Growth International news, Director Gary Keith Anderson bought 21,865 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were acquired at an average cost of C$13.72 per share, for a total transaction of C$299,987.80. Following the transaction, the director owned 106,990 shares in the company, valued at approximately C$1,467,902.80. The trade was a 25.69% increase in their ownership of the stock. Corporate insiders own 1.06% of the company’s stock.

Ag Growth International Company Profile

Ag Growth International Inc is a leading manufacturer and supplier of equipment and solutions for the agriculture, fertilizer, feed, food and commercial sectors. With manufacturing facilities and operations on six continents, AGI provides complete systems and services that support producers and processors throughout the agricultural value chain.