Brokerages Set $8.00 Price Target for AgroFresh Solutions, Inc. (AGFS)

Shares of AgroFresh Solutions, Inc. (NASDAQ:AGFS) have been given a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.

Brokers have set a 12-month consensus price target of $8.00 for the company, according to Zacks. Zacks has also assigned AgroFresh Solutions an industry rank of 103 out of 265 based on the ratings given to its competitors.

AGFS has been the topic of a number of recent analyst reports. BidaskClub lowered shares of AgroFresh Solutions from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Citigroup Inc. restated a “neutral” rating and set a $8.00 price target (down previously from $9.00) on shares of AgroFresh Solutions in a research note on Monday, August 14th.

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Shares of AgroFresh Solutions (NASDAQ:AGFS) traded down $0.12 during trading on Friday, reaching $5.32. 92,282 shares of the company’s stock were exchanged, compared to its average volume of 156,669. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.51 and a quick ratio of 2.28. AgroFresh Solutions has a twelve month low of $2.21 and a twelve month high of $9.05. The firm has a market cap of $264.27, a price-to-earnings ratio of 525.00 and a beta of 0.88.

In related news, major shareholder Chemical Co /De/ Dow purchased 14,282 shares of the business’s stock in a transaction on Monday, August 21st. The shares were acquired at an average price of $6.99 per share, for a total transaction of $99,831.18. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have acquired a total of 39,757 shares of company stock worth $277,923 in the last 90 days. 15.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of AGFS. Bank of New York Mellon Corp increased its stake in AgroFresh Solutions by 6.0% during the 1st quarter. Bank of New York Mellon Corp now owns 99,811 shares of the basic materials company’s stock valued at $437,000 after purchasing an additional 5,626 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of AgroFresh Solutions by 8.9% in the first quarter. TIAA CREF Investment Management LLC now owns 69,347 shares of the basic materials company’s stock worth $303,000 after acquiring an additional 5,648 shares during the period. Geode Capital Management LLC increased its stake in shares of AgroFresh Solutions by 2.9% in the first quarter. Geode Capital Management LLC now owns 204,662 shares of the basic materials company’s stock worth $894,000 after acquiring an additional 5,753 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of AgroFresh Solutions in the second quarter worth $900,000. Finally, Dow Chemical Co. DE increased its stake in shares of AgroFresh Solutions by 1.0% in the second quarter. Dow Chemical Co. DE now owns 17,670,356 shares of the basic materials company’s stock worth $126,874,000 after acquiring an additional 170,356 shares during the period. Institutional investors and hedge funds own 71.95% of the company’s stock.

AgroFresh Solutions Company Profile

AgroFresh Solutions, Inc, formerly Boulevard Acquisition Corp., is a developer of agricultural technologies that preserve the freshness and value of fresh produce, including apples, pears, kiwifruit, avocados and bananas, as well as flowers. The Company’s principal product, The SmartFresh Quality System (SmartFresh), regulates the post-harvest ripening effects of ethylene, the naturally occurring plant hormone that triggers ripening in certain fruits and vegetables, through technology.

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