In a research note issued on January 8, 2024, Cormark has established a price target of C$35.00 for shares of Ag Growth International (TSE:AFN). The firm has assigned a hold rating to the stock, reflecting a cautious stance amid fluctuating market assessments from various analysts.
Analysts Adjust Ratings and Price Targets
Several financial institutions have recently revised their ratings and price targets for Ag Growth International. Notably, National Bankshares reduced its target from C$49.00 to C$37.00, while maintaining an “outperform” rating as of December 1, 2023. Similarly, the Royal Bank of Canada downgraded its rating from “moderate buy” to “hold” and lowered its price objective from C$50.00 to C$25.00 earlier in November.
Other analysts have taken varying approaches as well. Raymond James Financial upgraded Ag Growth International from a “hold” to a “moderate buy” rating with a target price of C$52.00, while CIBC shifted its recommendation from “outperform” to “neutral,” lowering its price target from C$58.00 to C$33.00. Notably, CIBC Capital Markets also downgraded their rating to “hold” on the same day.
Overall, one analyst rates the stock as a Strong Buy, five have assigned a Buy rating, and four have issued a Hold rating. According to data compiled by MarketBeat.com, Ag Growth International currently holds a consensus rating of “Moderate Buy” with an average target price of C$38.25.
Recent Financial Performance
Ag Growth International disclosed its latest quarterly earnings on January 8, 2024. The company reported earnings per share (EPS) of C$0.80 for the quarter, with total revenue reaching C$389.43 million. The firm showed a return on equity of 7.48% and a net margin of 1.71%.
Equities analysts anticipate that Ag Growth International will report an EPS of 6.58 for the current fiscal year, indicating expectations for a stable financial outlook.
Ag Growth International Inc. manufactures a variety of equipment for grain handling, storage, and conditioning. Its product lineup includes augers, belt conveyors, grain storage bins, and drying systems. The company operates across several sectors, including portable handling, permanent handling, and livestock equipment, with well-known brands like Batco, Westfield, and REM.
Investors are encouraged to stay updated on further developments regarding Ag Growth International, as the market continues to evolve with new assessments from financial analysts.
