Ag Growth International (TSE:AFN) Trading Down 4.9% on Analyst Downgrade

Ag Growth International Inc. (TSE:AFN)’s stock price fell 4.9% on Thursday after TD Securities lowered their price target on the stock from C$57.00 to C$48.00. TD Securities currently has a buy rating on the stock. Ag Growth International traded as low as C$31.60 and last traded at C$32.78. 82,103 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 108,733 shares. The stock had previously closed at C$34.46.

Several other analysts have also weighed in on the stock. National Bankshares lowered their target price on shares of Ag Growth International from C$67.00 to C$55.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. CIBC cut their target price on shares of Ag Growth International from C$61.00 to C$58.00 in a report on Thursday, January 30th. Atb Cap Markets lowered Ag Growth International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Raymond James cut their target price on Ag Growth International from C$62.00 to C$52.00 in a research note on Tuesday, January 14th. Finally, ATB Capital downgraded Ag Growth International from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$79.00 to C$63.00 in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$59.25.

Ag Growth International Stock Performance

The firm has a market capitalization of C$672.77 million, a price-to-earnings ratio of 28.10, a PEG ratio of 1.30 and a beta of 2.29. The company has a debt-to-equity ratio of 277.31, a current ratio of 1.41 and a quick ratio of 0.84. The firm’s fifty day moving average is C$41.04 and its 200 day moving average is C$48.67.

Ag Growth International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.70%. Ag Growth International’s payout ratio is 47.90%.

Ag Growth International Company Profile

Ag Growth International Inc, together with its subsidiaries, manufactures and sells equipment for the agriculture industry in Canada, the United States, and internationally. It operates through Farm and Commercial segments. The company offers grain, bolted, hopper, and smooth wall bins; temporary storage; unloads and sweeps systems; water tanks; secondary containment systems; fuel tanks; and storage accessories, as well as mixed flow dryers; fans and heaters; aeration products; vents and exhausters; and stirring systems.