Ag Growth International Inc. (TSE:AFN – Get Free Report)’s share price dropped 26.3% on Thursday. The stock traded as low as C$9.20 and last traded at C$9.71. Approximately 358,282 shares traded hands during trading, an increase of 173% from the average daily volume of 131,253 shares. The stock had previously closed at C$13.18.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on AFN. National Bank Financial dropped their price target on shares of Ag Growth International from C$20.00 to C$19.00 and set a “sector perform” rating for the company in a research report on Friday, July 31st. Royal Bank Of Canada decreased their price objective on Ag Growth International from C$30.00 to C$20.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. ATB Cormark Capital Markets lowered their price objective on Ag Growth International from C$25.00 to C$18.00 and set a “sector perform” rating on the stock in a research note on Friday, July 31st. Finally, Desjardins cut their target price on Ag Growth International from C$25.00 to C$20.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$23.56.
Read Our Latest Stock Analysis on AFN
Ag Growth International Trading Up 0.2%
Ag Growth International (TSE:AFN – Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported C($2.06) EPS for the quarter. The business had revenue of C$323.18 million during the quarter. Ag Growth International had a negative return on equity of 48.31% and a negative net margin of 8.43%. Research analysts expect that Ag Growth International Inc. will post 6.5761006 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Gary Keith Anderson acquired 21,865 shares of the stock in a transaction on Friday, July 31st. The stock was purchased at an average price of C$13.72 per share, for a total transaction of C$299,987.80. Following the transaction, the director owned 106,990 shares of the company’s stock, valued at C$1,467,902.80. The trade was a 25.69% increase in their position. 1.06% of the stock is currently owned by corporate insiders.
About Ag Growth International
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.
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