Ag Growth International (TSE:AFN) Stock Price Down 4.9% After Analyst Downgrade

Shares of Ag Growth International Inc. (TSE:AFN) fell 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 equities research analysts also recently issued reports on AFN. Royal Bank of Canada downgraded shares of Ag Growth International from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$75.00 to C$45.00 in a research report on Thursday, January 30th. Atb Cap Markets downgraded Ag Growth International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. ATB Capital downgraded shares of Ag Growth International from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$79.00 to C$63.00 in a 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 report on Tuesday, January 14th. Finally, National Bankshares lowered 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. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$59.25.

Ag Growth International Stock Performance

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 firm’s 50 day moving average price is C$41.04 and its 200-day moving average price is C$48.67. The firm has a market capitalization of C$619.06 million, a PE ratio of 25.86, a price-to-earnings-growth ratio of 1.30 and a beta of 2.29.

Ag Growth International Announces Dividend

The firm also recently announced 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, December 31st. Ag Growth International’s payout ratio is 47.90%.

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.