CIBC Cuts Ag Growth International (TSE:AFN) Price Target to C$48.00

Ag Growth International (TSE:AFN) had its price objective lowered by CIBC from C$56.00 to C$48.00 in a research note issued to investors on Friday morning,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Several other analysts also recently issued reports on AFN. Royal Bank of Canada cut their price target on Ag Growth International from C$45.00 to C$40.00 and set a “sector perform” rating on the stock in a report on Friday. Atb Cap Markets downgraded Ag Growth International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. TD Securities cut their target price on Ag Growth International from C$57.00 to C$48.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. National Bankshares dropped their price objective on Ag Growth International from C$55.00 to C$51.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, ATB Capital downgraded Ag Growth International from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from C$79.00 to C$63.00 in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$50.50.

Ag Growth International Price Performance

Shares of TSE AFN opened at C$36.20 on Friday. Ag Growth International has a fifty-two week low of C$31.60 and a fifty-two week high of C$64.43. The business has a 50 day moving average price of C$40.41 and a two-hundred day moving average price of C$48.35. The company has a quick ratio of 0.84, a current ratio of 1.41 and a debt-to-equity ratio of 277.31. The firm has a market cap of C$691.88 million, a PE ratio of 28.90, a price-to-earnings-growth ratio of 1.30 and a beta of 2.29.

Ag Growth International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.66%. Ag Growth International’s dividend payout ratio is 47.90%.

Insider Buying and Selling at Ag Growth International

In other news, Senior Officer Paul David Householder purchased 4,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were bought at an average price of C$36.01 per share, with a total value of C$144,040.00. Also, Director Janet Giesselman purchased 6,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of C$36.35 per share, for a total transaction of C$218,076.00. Corporate insiders own 1.06% of the company’s stock.

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.