AGT Food and Ingredients Inc (TSE:AGT) was downgraded by equities researchers at Raymond James Financial, Inc. from a “strong-buy” rating to an “outperform” rating in a note issued to investors on Friday. They currently have a C$42.00 target price on the stock, down from their previous target price of C$46.00. Raymond James Financial, Inc.’s price objective indicates a potential upside of 39.53% from the company’s previous close.
Several other equities research analysts have also weighed in on the company. CIBC raised their target price on AGT Food and Ingredients from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Thursday, January 12th. AltaCorp Capital reissued an “outperform” rating on shares of AGT Food and Ingredients in a research report on Wednesday, March 8th. Finally, Scotiabank reissued a “sector perform” rating and set a C$38.00 target price on shares of AGT Food and Ingredients in a research report on Thursday, December 22nd.
AGT Food and Ingredients (TSE:AGT) opened at 30.10 on Friday. The firm has a market capitalization of $729.50 million and a P/E ratio of 34.60. AGT Food and Ingredients has a 52 week low of $29.39 and a 52 week high of $42.16. The stock’s 50 day moving average price is $33.18 and its 200 day moving average price is $35.79.
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In related news, insider Gaetan Michael Bourassa sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of C$30.08, for a total transaction of C$752,000.00. Also, Director Gregory Shawn Stewart purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 24th. The shares were purchased at an average price of C$31.64 per share, for a total transaction of C$31,640.00.
About AGT Food and Ingredients
AGT Food and Ingredients Inc (AGT), formerly Alliance Grain Traders Inc, is a processor and splitter of pulse crops. The Company is engaged in pulse and staple food processing and distribution, with processing facilities and sales offices located around the world. It operates in three segments: Pulse and Grain Processing, which includes the operations of AGT subsidiaries and facilities in Canada, the United States, Australia, China and a portion of the operations in Turkey; Trading and Distribution, which includes operations in Europe, Russia, India and a portion of the operations in Canada, Turkey and Australia, and Food Ingredients and Packaged Foods, which include subsidiaries and facilities in the United States, Canada, South Africa and a portion of the operations in Turkey.
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