AgroFresh Solutions, Inc. (NASDAQ:AGFS) Expected to Post Quarterly Sales of $38.36 Million

Wall Street brokerages predict that AgroFresh Solutions, Inc. (NASDAQ:AGFS – Get Rating) will post $38.36 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for AgroFresh Solutions’ earnings, with the lowest sales estimate coming in at $37.00 million and the highest estimate coming in at $39.72 million. AgroFresh Solutions posted sales of $38.99 million in the same quarter last year, which would indicate a negative year over year growth rate of 1.6%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that AgroFresh Solutions will report full year sales of $174.76 million for the current year, with estimates ranging from $171.00 million to $178.52 million. For the next fiscal year, analysts expect that the company will report sales of $198.94 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow AgroFresh Solutions.

Separately, StockNews.com started coverage on shares of AgroFresh Solutions in a report on Monday. They issued a “hold” rating for the company.

Several institutional investors have recently modified their holdings of the company. TSP Capital Management Group LLC grew its position in shares of AgroFresh Solutions by 39.9% in the 4th quarter. TSP Capital Management Group LLC now owns 2,761,800 shares of the basic materials company’s stock worth $5,496,000 after buying an additional 787,000 shares during the last quarter. Millennium Management LLC lifted its stake in AgroFresh Solutions by 1,541.1% during the 2nd quarter. Millennium Management LLC now owns 414,359 shares of the basic materials company’s stock valued at $862,000 after acquiring an additional 389,110 shares during the period. BlackRock Inc. lifted its stake in AgroFresh Solutions by 52.4% during the 3rd quarter. BlackRock Inc. now owns 195,830 shares of the basic materials company’s stock valued at $423,000 after acquiring an additional 67,354 shares during the period. American Century Companies Inc. lifted its stake in AgroFresh Solutions by 39.1% during the 4th quarter. American Century Companies Inc. now owns 75,261 shares of the basic materials company’s stock valued at $150,000 after acquiring an additional 21,153 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in AgroFresh Solutions during the third quarter worth $138,000. 74.34% of the stock is currently owned by hedge funds and other institutional investors.

AgroFresh Solutions stock traded down $0.03 during midday trading on Friday, reaching $1.88. 327 shares of the company traded hands, compared to its average volume of 64,054. The business has a 50 day moving average of $1.96 and a two-hundred day moving average of $2.00. The company has a quick ratio of 2.72, a current ratio of 3.12 and a debt-to-equity ratio of 1.10. AgroFresh Solutions has a 12 month low of $1.64 and a 12 month high of $2.59.

AgroFresh Solutions Company Profile (Get Rating)

AgroFresh Solutions, Inc engages in the provision of food preservation and waste reduction solutions for fresh produce. Its products include SmartFreshTM, HarvistaTM, and FreshCloud. It operates through the AgroFresh Core and Tecnidex segments. The AgroFresh Core produces preservation and waste reduction solutions for growers and packers.

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