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

Ag Growth International Inc. (TSE:AFN) shares were 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. Approximately 84,338 shares traded hands during trading, an increase of 113% from the average daily volume of 39,672 shares. The stock had previously closed at C$61.39.

Other research analysts also recently issued reports about the company. CIBC lifted their target price on Ag Growth International from C$78.00 to C$82.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Scotiabank dropped their price objective on shares of Ag Growth International from C$88.00 to C$75.00 and set an “outperform” rating on the stock in a research note on Wednesday. Raymond James raised their target price on shares of Ag Growth International from C$64.00 to C$72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. ATB Capital dropped their price target on shares of Ag Growth International from C$85.00 to C$81.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Royal Bank of Canada raised their price objective on shares of 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. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ag Growth International has a consensus rating of “Buy” and an average target price of C$78.22.

Ag Growth International Stock Performance

The stock’s fifty day simple moving average is C$60.75 and its 200-day simple moving average is C$55.35. The company has a market capitalization of C$960.01 million, a PE ratio of 14.68, a PEG ratio of 1.30 and a beta of 2.32. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 285.22.

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

Ag Growth International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.60 annualized dividend and a yield of 1.19%. Ag Growth International’s dividend payout ratio (DPR) is currently 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.