CIBC Has Lowered Expectations for Ag Growth International (TSE:AFN) Stock Price

Ag Growth International (TSE:AFN) had its target price decreased by research analysts at CIBC from C$75.00 to C$70.00 in a note issued to investors on Thursday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 33.41% from the stock’s current price.

Several other brokerages have also commented on AFN. TD Securities decreased their target price on Ag Growth International from C$79.00 to C$77.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Raymond James lowered shares of Ag Growth International from an “outperform” rating to a “market perform” rating and lowered their target price for the company from C$72.00 to C$62.00 in a research note on Friday, October 18th. Finally, Royal Bank of Canada reduced their price target on shares of Ag Growth International from C$80.00 to C$75.00 in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$74.56.

Ag Growth International Stock Down 1.0 %

Ag Growth International stock traded down C$0.53 during midday trading on Thursday, hitting C$52.47. 66,529 shares of the company were exchanged, compared to its average volume of 64,491. The company’s fifty day moving average price is C$52.51 and its 200-day moving average price is C$52.64. Ag Growth International has a fifty-two week low of C$45.96 and a fifty-two week high of C$64.51. The company has a debt-to-equity ratio of 298.35, a current ratio of 1.49 and a quick ratio of 0.84. The company has a market cap of C$1.00 billion, a PE ratio of 34.52, a price-to-earnings-growth ratio of 1.30 and a beta of 2.29.

Ag Growth International (TSE:AFN) last announced its quarterly earnings data on Wednesday, August 7th. The company reported C$1.42 earnings per share for the quarter, missing the consensus estimate of C$1.67 by C($0.25). Ag Growth International had a return on equity of 10.35% and a net margin of 2.13%. The company had revenue of C$351.78 million for the quarter, compared to analyst estimates of C$397.51 million. On average, research analysts predict that Ag Growth International will post 6.5761006 EPS for the current fiscal year.

About Ag Growth International

Ag Growth International Inc, together with its subsidiaries, manufactures and sells equipment for the agriculture industry in Canada, the United States, and internationally. It operates through Farm and Commercial segments. The company offers grain, bolted, hopper, and smooth wall bins; temporary storage; unloads and sweeps systems; water tanks; secondary containment systems; fuel tanks; and storage accessories, as well as mixed flow dryers; fans and heaters; aeration products; vents and exhausters; and stirring systems.