Ag Growth International (TSE:AFN) Shares Up 13.8% – What’s Next?

Ag Growth International Inc. (TSE:AFN)’s share price shot up 13.8% during trading on Wednesday. The stock traded as high as C$8.28 and last traded at C$8.25. 175,149 shares traded hands during trading, an increase of 21% from the average session volume of 145,195 shares. The stock had previously closed at C$7.25.

Wall Street Analyst Weigh In

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

Ag Growth International Stock Performance

The company has a debt-to-equity ratio of 541.43, a quick ratio of 0.84 and a current ratio of 1.30. The business has a 50 day moving average price of C$11.30 and a two-hundred day moving average price of C$16.91. The company has a market cap of C$155.19 million, a P/E ratio of -1.32, a price-to-earnings-growth ratio of 1.30 and a beta of 1.56.

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

Insider Buying and Selling at Ag Growth International

In other news, Director Gary Keith Anderson bought 21,865 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were purchased at an average price of C$13.72 per share, for a total transaction of C$299,987.80. Following the completion of the acquisition, the director owned 106,990 shares of the company’s stock, valued at approximately C$1,467,902.80. This trade represents a 25.69% increase in their ownership of the stock. Company 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.