CIBC Issues Pessimistic Forecast for Ag Growth International (TSE:AFN) Stock Price

Ag Growth International (TSE:AFN) had its price objective dropped by research analysts at CIBC from C$56.00 to C$48.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s price target would suggest a potential upside of 32.60% from the stock’s previous close.

A number of other brokerages have also weighed in on AFN. Raymond James upgraded shares of Ag Growth International from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from C$52.00 to C$47.00 in a report on Friday. TD Securities lowered their price objective on shares of Ag Growth International from C$57.00 to C$48.00 and set a “buy” rating for the company in a report on Wednesday. Desjardins lowered their price objective on shares of Ag Growth International from C$57.00 to C$49.00 and set a “buy” rating for the company in a report on Friday. National Bankshares lowered their price objective on shares of Ag Growth International from C$55.00 to C$51.00 and set an “outperform” rating for the company in a report on Friday. Finally, ATB Capital lowered shares of Ag Growth International from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$79.00 to C$63.00 in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$50.50.

Ag Growth International Price Performance

AFN stock opened at C$36.20 on Friday. The company has a debt-to-equity ratio of 277.31, a current ratio of 1.41 and a quick ratio of 0.84. Ag Growth International has a one year low of C$31.60 and a one year high of C$64.43. The stock has a market cap of C$691.88 million, a PE ratio of 28.90, a P/E/G ratio of 1.30 and a beta of 2.29. The firm has a 50 day simple moving average of C$40.41 and a two-hundred day simple moving average of C$48.40.

Insiders Place Their Bets

In related news, Director Janet Giesselman acquired 6,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of C$36.35 per share, for a total transaction of C$218,076.00. Also, Senior Officer Paul David Householder acquired 4,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was bought at an average price of C$36.01 per share, with a total value of C$144,040.00. Company insiders own 1.06% of the company’s stock.

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.