Ag Growth International Inc. (TSE:AFN) Receives Average Rating of “Moderate Buy” from Brokerages

Ag Growth International Inc. (TSE:AFN) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$74.38.

AFN has been the subject of a number of analyst reports. TD Securities reduced their price objective on shares of Ag Growth International from C$79.00 to C$77.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada reduced their price target on Ag Growth International from C$80.00 to C$75.00 in a research note on Thursday, November 7th. CIBC lowered their price objective on Ag Growth International from C$75.00 to C$70.00 in a research report on Thursday, November 7th. Finally, Raymond James downgraded Ag Growth International from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from C$72.00 to C$62.00 in a research report on Friday, October 18th.

Ag Growth International Price Performance

AFN stock opened at C$51.98 on Wednesday. The stock’s 50 day moving average price is C$52.08 and its 200 day moving average price is C$52.41. The firm has a market cap of C$991.26 million, a P/E ratio of 34.20, a PEG ratio of 1.30 and a beta of 2.29. The company has a debt-to-equity ratio of 298.35, a quick ratio of 0.84 and a current ratio of 1.49. Ag Growth International has a 1 year low of C$45.96 and a 1 year high of C$64.51.

Ag Growth International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were paid a $0.15 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.15%. Ag Growth International’s dividend payout ratio (DPR) is presently 39.47%.

About Ag Growth International

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.