AGT Food and Ingredients Inc (AGT) PT Lowered to C$33.00

AGT Food and Ingredients Inc (TSE:AGT) had its target price trimmed by CIBC from C$39.00 to C$33.00 in a research report sent to investors on Tuesday, May 9th.

A number of other research firms have also commented on AGT. BMO Capital Markets reaffirmed an outperform rating and issued a C$40.00 price objective on shares of AGT Food and Ingredients in a research note on Friday, April 28th. National Bank Financial reduced their price objective on shares of AGT Food and Ingredients from C$42.00 to C$36.00 in a research note on Friday, May 5th. Raymond James Financial, Inc. lowered shares of AGT Food and Ingredients from a strong-buy rating to an outperform rating and reduced their price objective for the company from C$46.00 to C$42.00 in a research note on Friday, March 24th. AltaCorp Capital reissued an outperform rating on shares of AGT Food and Ingredients in a research note on Wednesday, March 8th. Finally, Scotiabank cut their target price on shares of AGT Food and Ingredients from C$38.00 to C$34.00 and set a sector perform rating on the stock in a research note on Friday, March 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. AGT Food and Ingredients currently has a consensus rating of Hold and a consensus price target of C$36.42.

AGT Food and Ingredients (TSE AGT) traded down 1.38% during midday trading on Tuesday, reaching $25.65. The company’s stock had a trading volume of 31,195 shares. The firm has a 50-day moving average price of $27.05 and a 200 day moving average price of $32.12. AGT Food and Ingredients has a 52-week low of $24.70 and a 52-week high of $39.57. The stock’s market capitalization is $621.65 million.

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In related news, Director Gregory Shawn Stewart acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 24th. The stock was acquired at an average price of C$31.64 per share, for a total transaction of C$31,640.00. Also, insider Gaetan Michael Bourassa sold 25,000 shares of the firm’s stock in a transaction dated Friday, March 24th. The stock was sold at an average price of C$30.08, for a total transaction of C$752,000.00. In the last quarter, insiders bought 8,597 shares of company stock valued at $227,408.

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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