Scotiabank Keeps Their Hold Rating on AGT Food & Ingredients

By Jason Carr

AGT Food & Ingredients (TSX: AGT), the Consumer Goods sector company, was revisited by a Wall Street analyst on August 10. The company received a Hold on August 10 from Scotiabank’s analyst George Doumet, with a C$26 price target.

According to TipRanks.com, Doumet is ranked #619 out of 4628 analysts.

AGT Food & Ingredients has an analyst consensus of Strong Buy, with a price target consensus of C$31.45.

Based on AGT Food & Ingredients’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of C$466 million and GAAP net loss of C$180K. In comparison, last year the company earned revenue of C$439 million and had a GAAP net loss of C$2.19 million.

AGT Food and Ingredients, Inc. processes and sells lentils and other types of grain. It engages in the business of sourcing and processing of crops, including peas, chickpeas, beans and canary seed, primarily for export markets, along with wheat, bulgar, rice and pasta.

The company’s shares closed on Friday at C$23.71, close to its 52-week high of C$39.57.