Ag Growth International (TSE:AFN) Hits New 12-Month Low – Here’s Why

Ag Growth International Inc. (TSE:AFN) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$36.04 and last traded at C$36.13, with a volume of 2037 shares traded. The stock had previously closed at C$36.68.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. ATB Capital lowered shares of Ag Growth International from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$79.00 to C$63.00 in a research report on Tuesday, January 14th. CIBC cut their price target on Ag Growth International from C$61.00 to C$58.00 in a report on Thursday, January 30th. National Bankshares decreased their price objective on Ag Growth International from C$67.00 to C$55.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Royal Bank of Canada cut Ag Growth International from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$75.00 to C$45.00 in a research report on Thursday, January 30th. Finally, TD Securities reduced their target price on Ag Growth International from C$73.00 to C$57.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ag Growth International presently has an average rating of “Moderate Buy” and an average price target of C$60.38.

Ag Growth International Stock Down 1.6 %

The firm’s 50-day simple moving average is C$43.98 and its 200 day simple moving average is C$49.85. 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 has a market cap of C$695.32 million, a P/E ratio of 29.05, a PEG ratio of 1.30 and a beta of 2.29.

Ag Growth International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.65%. The ex-dividend date was Tuesday, December 31st. Ag Growth International’s payout ratio is 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.