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

Ag Growth International Inc. (TSE:AFN) shares were down 4.9% during trading 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. Approximately 82,103 shares changed hands during trading, a decline of 24% from the average daily volume of 108,733 shares. The stock had previously closed at C$34.46.

A number of other research analysts have also recently issued reports on AFN. National Bankshares decreased their price target on shares of Ag Growth International from C$67.00 to C$55.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Royal Bank of Canada lowered shares of Ag Growth International from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$75.00 to C$45.00 in a research note on Thursday, January 30th. ATB Capital lowered shares of Ag Growth International from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from C$79.00 to C$63.00 in a research report on Tuesday, January 14th. Raymond James cut their price target on Ag Growth International from C$62.00 to C$52.00 in a research note on Tuesday, January 14th. Finally, CIBC reduced their target price on Ag Growth International from C$61.00 to C$58.00 in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$59.25.

Ag Growth International Price Performance

The stock has a market capitalization of C$672.77 million, a price-to-earnings ratio of 28.10, a price-to-earnings-growth ratio of 1.30 and a beta of 2.29. 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 company has a 50 day moving average of C$41.04 and a 200 day moving average of C$48.67.

Ag Growth International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 1.70%. Ag Growth International’s dividend payout ratio is currently 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.