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

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

A number of other brokerages also recently weighed in on AFN. Royal Bank of Canada downgraded shares of Ag Growth International from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from C$75.00 to C$45.00 in a research note on Thursday, January 30th. CIBC lowered their target price on shares of Ag Growth International from C$61.00 to C$58.00 in a research note on Thursday, January 30th. Atb Cap Markets downgraded shares of Ag Growth International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. ATB Capital cut shares of 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. Finally, Raymond James decreased their target price on Ag Growth International from C$62.00 to C$52.00 in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$59.25.

Ag Growth International Stock Down 6.0 %

The stock’s fifty day moving average price is C$41.04 and its 200 day moving average price is C$48.67. The stock has a market cap of C$619.06 million, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 1.30 and a beta of 2.29. The company has a current ratio of 1.41, a quick ratio of 0.84 and a debt-to-equity ratio of 277.31.

Ag Growth International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th were paid a $0.15 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.85%. Ag Growth International’s payout ratio is presently 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.