Ag Growth International (TSE:AFN) Releases Earnings Results

Ag Growth International (TSE:AFN) issued its quarterly earnings results on Wednesday. The company reported C($2.06) earnings per share (EPS) for the quarter, FiscalAI reports. 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 during the quarter.

Ag Growth International Trading Down 23.8%

TSE:AFN opened at C$14.32 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.84 and a debt-to-equity ratio of 497.80. The stock has a market capitalization of C$270.09 million, a price-to-earnings ratio of -5.01, a PEG ratio of 1.30 and a beta of 0.99. The firm has a fifty day simple moving average of C$20.52 and a two-hundred day simple moving average of C$23.20. Ag Growth International has a 12 month low of C$13.60 and a 12 month high of C$44.84.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Ag Growth International

In related news, Director Rohit Bhardwaj acquired 8,500 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of C$24.00 per share, for a total transaction of C$204,000.00. Following the completion of the acquisition, the director owned 28,500 shares of the company’s stock, valued at approximately C$684,000. This trade represents a 42.50% increase in their ownership of the stock. Corporate 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.