Ag Growth International (TSE:AFN) Share Price Passes Above 200-Day Moving Average of $44.85

Ag Growth International Inc (TSE:AFN) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $44.85 and traded as high as $47.40. Ag Growth International shares last traded at $46.89, with a volume of 38,780 shares changing hands.

A number of brokerages recently commented on AFN. Raymond James set a C$60.00 price target on shares of Ag Growth International and gave the company an “outperform” rating in a report on Monday, January 20th. CIBC boosted their price objective on Ag Growth International from C$59.00 to C$60.00 in a research note on Thursday, January 9th. Scotiabank decreased their price objective on Ag Growth International from C$55.00 to C$53.00 in a research report on Friday, January 17th. National Bank Financial lowered their price objective on Ag Growth International from C$61.00 to C$57.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Finally, Royal Bank of Canada dropped their target price on Ag Growth International from C$58.00 to C$55.00 and set an “outperform” rating for the company in a report on Monday, November 25th.

The company has a quick ratio of 0.95, a current ratio of 1.92 and a debt-to-equity ratio of 199.83. The firm’s 50 day simple moving average is C$46.35 and its 200 day simple moving average is C$44.78. The company has a market capitalization of $876.65 million and a PE ratio of 154.85.

Ag Growth International (TSE:AFN) last announced its earnings results on Thursday, November 14th. The company reported C$0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.57 by C$0.34. The firm had revenue of C$260.20 million during the quarter, compared to analysts’ expectations of C$255.73 million. As a group, sell-side analysts predict that Ag Growth International Inc will post 2.92 EPS for the current fiscal year.

The company also recently announced a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, March 13th will be issued a $0.20 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.40 annualized dividend and a dividend yield of 5.18%. Ag Growth International’s dividend payout ratio (DPR) is presently 802.68%.

About Ag Growth International (TSE:AFN)

Ag Growth International Inc, together with its subsidiaries, manufactures and distributes grain handling, storage, and conditioning equipment in Canada, the United States, and internationally. The company offers portable handling equipment, such as portable augers, portable belt conveyors, grainvacs, and storm seed treaters; and permanent handling equipment, including TA tapered auger vertical blend systems, high-tonnage conveying systems, distributors, bulk weigh hoppers, enclosed belt conveyors, bucket elevators, rail and truck probes, VIS micro dosing systems, chain conveyors, truss and towers, screw feeders and conveyors, and spout and connections.

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