CIBC Lowers Ag Growth International (TSE:AFN) Price Target to C$49.00

Ag Growth International (TSE:AFN) had its price target reduced by CIBC from C$52.00 to C$49.00 in a research report sent to investors on Wednesday,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

AFN has been the subject of several other research reports. TD Securities raised their price target on Ag Growth International from C$46.00 to C$48.00 and gave the company a “buy” rating in a report on Wednesday. Atb Cap Markets cut shares of Ag Growth International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. ATB Capital lowered their price target on shares of Ag Growth International from C$46.00 to C$43.00 and set a “sector perform” rating for the company in a report on Wednesday. National Bankshares boosted their price objective on Ag Growth International from C$49.00 to C$51.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada lowered their price objective on Ag Growth International from C$45.00 to C$40.00 and set a “sector perform” rating for the company in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Ag Growth International has an average rating of “Moderate Buy” and an average target price of C$47.86.

Ag Growth International Price Performance

AFN stock opened at C$38.72 on Wednesday. The company has a debt-to-equity ratio of 277.31, a quick ratio of 0.84 and a current ratio of 1.41. The company’s fifty day moving average price is C$34.19 and its 200-day moving average price is C$42.16. Ag Growth International has a one year low of C$30.81 and a one year high of C$58.14. The company has a market capitalization of C$740.04 million, a PE ratio of 30.91, a price-to-earnings-growth ratio of 1.30 and a beta of 2.29.

Ag Growth International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Monday, March 31st. Ag Growth International’s dividend payout ratio (DPR) is currently 47.90%.

Insider Buying and Selling at Ag Growth International

In other news, Senior Officer Paul David Householder bought 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of C$36.01 per share, for a total transaction of C$144,040.00. Also, Director Anne De Greef-Safft acquired 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of C$36.99 per share, with a total value of C$73,985.00. In the last quarter, insiders have purchased 12,000 shares of company stock worth $436,101. 1.06% of the stock is owned by corporate insiders.

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.