Ag Growth International (TSE:AFN) Trading Down 11.2% After Analyst Downgrade

Ag Growth International Inc. (TSE:AFN) traded down 11.2% on Tuesday after National Bankshares lowered their price target on the stock from C$82.00 to C$77.00. National Bankshares currently has an outperform rating on the stock. Ag Growth International traded as low as C$52.82 and last traded at C$54.51. 84,338 shares were traded during trading, an increase of 113% from the average session volume of 39,672 shares. The stock had previously closed at C$61.39.

A number of other brokerages also recently issued reports on AFN. Scotiabank lowered their price target on shares of Ag Growth International from C$88.00 to C$75.00 and set an “outperform” rating on the stock in a report on Wednesday. Royal Bank of Canada raised their target price on Ag Growth International from C$75.00 to C$80.00 and gave the company an “outperform” rating in a research report on Friday, March 8th. TD Securities upped their price target on Ag Growth International from C$75.00 to C$83.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. ATB Capital dropped their price objective on Ag Growth International from C$85.00 to C$81.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, CIBC boosted their price objective on Ag Growth International from C$78.00 to C$82.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ag Growth International presently has a consensus rating of “Buy” and an average target price of C$78.22.

Ag Growth International Stock Down 4.7 %

The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 285.22. The business has a fifty day simple moving average of C$60.75 and a two-hundred day simple moving average of C$55.35. The company has a market cap of C$960.01 million, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.30 and a beta of 2.32.

Ag Growth International (TSE:AFN) last posted its quarterly earnings results on Tuesday, March 5th. The company reported C$1.70 earnings per share for the quarter, topping the consensus estimate of C$1.08 by C$0.62. Ag Growth International had a net margin of 4.51% and a return on equity of 23.61%. The firm had revenue of C$379.32 million for the quarter, compared to the consensus estimate of C$414.68 million. As a group, equities research analysts predict that Ag Growth International Inc. will post 5.9042146 earnings per share for the current year.

Ag Growth International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.15 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.19%. Ag Growth International’s dividend payout ratio is presently 17.44%.

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.