AgroFresh Solutions Inc (NASDAQ:AGFS) Receives Consensus Recommendation of “Buy” from Brokerages
Posted by Jennifer Kim on Jun 25th, 2019
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?Shares of AgroFresh Solutions Inc (NASDAQ:AGFS) have been assigned an average broker rating score of 1.67 (Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and two have issued a strong buy rating on the company. AgroFresh Solutions’ rating score has improved by 44.3% from 90 days ago as a result of a number of analysts’ ratings changes.
Brokerages have set a twelve-month consensus target price of $5.50 for the company and are forecasting that the company will post ($0.51) earnings per share for the current quarter, according to Zacks. Zacks has also assigned AgroFresh Solutions an industry rank of 55 out of 256 based on the ratings given to its competitors.
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A number of brokerages have recently weighed in on AGFS. Roth Capital began coverage on AgroFresh Solutions in a research note on Tuesday, May 21st. They issued a “buy” rating and a $6.00 target price for the company. HC Wainwright began coverage on AgroFresh Solutions in a research note on Tuesday, April 16th. They issued a “buy” rating and a $5.00 target price for the company.
In other news, Director Gregory M. Freiwald purchased 49,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average price of $2.59 per share, for a total transaction of $128,205.00. Following the completion of the acquisition, the director now directly owns 114,339 shares in the company, valued at $296,138.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders purchased 60,000 shares of company stock worth $152,825. 1.60% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of AGFS. Dow Chemical Co. DE boosted its holdings in AgroFresh Solutions by 5.8% in the fourth quarter. Dow Chemical Co. DE now owns 21,001,151 shares of the basic materials company’s stock valued at $79,594,000 after acquiring an additional 1,153,468 shares during the last quarter. Vanguard Group Inc. boosted its holdings in AgroFresh Solutions by 7.9% during the third quarter. Vanguard Group Inc. now owns 1,612,413 shares of the basic materials company’s stock worth $10,046,000 after buying an additional 117,567 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in AgroFresh Solutions by 12.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,010,377 shares of the basic materials company’s stock worth $3,829,000 after buying an additional 111,179 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in AgroFresh Solutions by 246.4% during the first quarter. Parametric Portfolio Associates LLC now owns 126,815 shares of the basic materials company’s stock worth $424,000 after buying an additional 90,209 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new position in AgroFresh Solutions during the fourth quarter worth about $249,000. Institutional investors and hedge funds own 82.19% of the company’s stock.
Shares of NASDAQ:AGFS traded up $0.05 during midday trading on Monday, reaching $2.15. The company’s stock had a trading volume of 793 shares, compared to its average volume of 175,490. AgroFresh Solutions has a fifty-two week low of $2.07 and a fifty-two week high of $7.67. The firm has a market cap of $108.05 million, a PE ratio of -4.00 and a beta of 0.92. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.66 and a current ratio of 1.98.
AgroFresh Solutions (NASDAQ:AGFS) last announced its earnings results on Tuesday, May 7th. The basic materials company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.05). AgroFresh Solutions had a negative net margin of 18.51% and a negative return on equity of 8.47%. The business had revenue of $38.94 million during the quarter, compared to analyst estimates of $39.55 million. On average, analysts anticipate that AgroFresh Solutions will post -0.5 EPS for the current fiscal year.
AgroFresh Solutions Company Profile
AgroFresh Solutions, Inc provides data-driven solutions worldwide. The company uses 1-Methylcyclopropene technology, an ethylene action inhibitor to maintain freshness and extend the shelf life of various fresh produce. Its solutions enable growers and packers of fresh produce to preserve and enhance the freshness, quality, and value of fresh produce, including apples, pears, kiwifruit, plums, persimmons avocados, and bananas, as well as flowers.
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