CIBC Lowers Ag Growth International (TSE:AFN) Price Target to C$70.00

Ag Growth International (TSE:AFN) had its target price lowered by analysts at CIBC from C$75.00 to C$70.00 in a research note issued on Thursday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 32.95% from the company’s current price.

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

Ag Growth International Stock Performance

Shares of TSE AFN opened at C$52.65 on Thursday. The stock has a market capitalization of C$1.00 billion, a P/E ratio of 34.64, a P/E/G ratio of 1.30 and a beta of 2.29. The firm’s 50-day moving average price is C$52.40 and its two-hundred day moving average price is C$52.58. Ag Growth International has a 52-week low of C$45.96 and a 52-week high of C$64.51. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 298.35.

Ag Growth International (TSE:AFN) last announced its quarterly earnings results on Wednesday, August 7th. The company reported C$1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.67 by C($0.25). The company had revenue of C$351.78 million during the quarter, compared to the consensus estimate of C$397.51 million. Ag Growth International had a return on equity of 10.35% and a net margin of 2.13%. As a group, sell-side analysts forecast that Ag Growth International will post 6.5761006 earnings per share for the current year.

Ag Growth International Company Profile

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.