Ag Growth International Inc. (TSE:AFN) Receives C$59.25 Consensus Target Price from Brokerages

Ag Growth International Inc. (TSE:AFN) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is C$50.25.

AFN has been the subject of several analyst reports. Atb Cap Markets downgraded shares of Ag Growth International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Raymond James upgraded shares of Ag Growth International from a “market perform” rating to an “outperform” rating and decreased their target price for the company from C$52.00 to C$47.00 in a research note on Friday, March 7th. ATB Capital reduced their price objective on shares of Ag Growth International from C$57.00 to C$46.00 and set a “sector perform” rating on the stock in a research note on Friday, March 7th. National Bankshares reduced their price objective on shares of Ag Growth International from C$55.00 to C$51.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Finally, CIBC reduced their price objective on shares of Ag Growth International from C$56.00 to C$48.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th.

Insiders Place Their Bets

In other Ag Growth International news, Director Janet Giesselman bought 6,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of C$36.35 per share, with a total value of C$218,076.00. Also, Senior Officer Paul David Householder bought 4,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of C$36.01 per share, for a total transaction of C$144,040.00. Over the last three months, insiders have acquired 12,000 shares of company stock valued at $436,101. Company insiders own 1.06% of the company’s stock.

Ag Growth International Price Performance

Shares of AFN stock opened at C$36.17 on Friday. The company has a market capitalization of C$691.31 million, a PE ratio of 28.88, a price-to-earnings-growth ratio of 1.30 and a beta of 2.29. The firm has a fifty day simple moving average of C$39.56 and a 200-day simple moving average of C$48.01. The company has a current ratio of 1.41, a quick ratio of 0.84 and a debt-to-equity ratio of 277.31. Ag Growth International has a twelve month low of C$31.60 and a twelve month high of C$64.31.

Ag Growth International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.66%. Ag Growth International’s dividend payout ratio (DPR) 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.