Cormark Securities has established a price target of C$35.00 for shares of Ag Growth International (TSE:AFN), as outlined in a research note released on Monday. The firm has assigned a hold rating to the stock, reflecting a cautious outlook amid fluctuating market conditions.
Several financial institutions have recently updated their assessments of Ag Growth International. Notably, National Bankshares revised their price target downwards from C$49.00 to C$37.00, while maintaining an “outperform” rating. This adjustment was reported on December 1, 2023. In contrast, the Royal Bank of Canada downgraded the stock from a “moderate buy” to a “hold” rating, significantly lowering their price objective from C$50.00 to C$25.00 in a note published on November 17, 2023.
Additionally, Raymond James Financial upgraded Ag Growth International from a “hold” to a “moderate buy” rating, setting a target price of C$52.00 in their analysis released on January 9, 2024. Meanwhile, CIBC downgraded the stock from an “outperform” to a “neutral” rating, adjusting their price target from C$58.00 to C$33.00 on the same day as the Royal Bank’s update.
According to data compiled by MarketBeat.com, there is a mix of ratings for Ag Growth International. One analyst has given a Strong Buy rating, five analysts have assigned a Buy rating, and four have issued a Hold rating. The consensus rating stands at “Moderate Buy,” with an average target price of C$38.25.
Recent Earnings and Company Overview
Ag Growth International announced its quarterly earnings on January 8, 2024, reporting earnings per share (EPS) of C$0.80 for the quarter, alongside revenue of C$389.43 million. The company recorded a return on equity of 7.48% and a net margin of 1.71%. Analysts project that Ag Growth International will achieve an EPS of 6.58 for the current fiscal year.
Ag Growth International specializes in manufacturing portable and stationary equipment for grain handling, storage, and conditioning. The company’s product range includes augers, belt conveyors, storage bins, and grain aeration and drying systems. Its operations span various sectors, including livestock and manufacturing, with notable brands such as Batco, Wheatheart, and Westfield.
As investors monitor these developments, Ag Growth International’s stock performance will be closely watched, particularly in light of the varied analyst ratings and price target adjustments.
