CIBC Issues Pessimistic Forecast 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$61.00 to C$58.00 in a research note issued on Thursday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 47.85% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. TD Securities dropped their price target on Ag Growth International from C$73.00 to C$57.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Royal Bank of Canada cut Ag Growth International from a “moderate buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Atb Cap Markets lowered shares of Ag Growth International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Raymond James dropped their price objective on shares of Ag Growth International from C$62.00 to C$52.00 in a report on Tuesday, January 14th. Finally, ATB Capital cut shares of Ag Growth International from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from C$79.00 to C$63.00 in a report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Ag Growth International currently has an average rating of “Moderate Buy” and a consensus price target of C$60.38.

Ag Growth International Price Performance

TSE AFN opened at C$39.23 on Thursday. The company has a debt-to-equity ratio of 298.35, a quick ratio of 0.84 and a current ratio of 1.49. The company has a market capitalization of C$748.12 million, a price-to-earnings ratio of 25.81, a PEG ratio of 1.30 and a beta of 2.29. The stock has a 50-day moving average of C$48.29 and a 200 day moving average of C$51.55. Ag Growth International has a one year low of C$37.61 and a one year high of C$64.51.

Ag Growth International (TSE:AFN) last released its quarterly earnings data on Tuesday, November 5th. The company reported C$1.26 earnings per share for the quarter, missing the consensus estimate of C$1.66 by C($0.40). Ag Growth International had a net margin of 2.13% and a return on equity of 10.35%. During the same quarter in the previous year, the firm earned $1.62 EPS. On average, sell-side analysts forecast that Ag Growth International will post 6.5761006 EPS for the current 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.