Ag Growth International (TSE:AFN) Sets New 52-Week Low – Here’s Why

Ag Growth International Inc. (TSE:AFN) shares hit a new 52-week low on Thursday . The stock traded as low as C$18.07 and last traded at C$18.12, with a volume of 360563 shares trading hands. The stock had previously closed at C$19.01.

Analysts Set New Price Targets

AFN has been the topic of several analyst reports. Royal Bank Of Canada downgraded shares of Ag Growth International from a “moderate buy” rating to a “hold” rating and cut their price target for the company from C$50.00 to C$25.00 in a report on Monday, November 17th. CIBC cut shares of Ag Growth International from an “outperform” rating to a “neutral” rating and lowered their price target for the company from C$58.00 to C$33.00 in a report on Monday, November 17th. Cibc Captl Mkts lowered shares of Ag Growth International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th. TD Securities lifted their price target on shares of Ag Growth International from C$55.00 to C$57.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, Raymond James Financial downgraded Ag Growth International from a “moderate buy” rating to a “hold” rating in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$44.57.

Ag Growth International Trading Up 8.0%

The company has a quick ratio of 0.84, a current ratio of 1.41 and a debt-to-equity ratio of 277.31. The company’s 50-day moving average is C$33.84 and its 200 day moving average is C$38.42. The company has a market cap of C$367.16 million, a price-to-earnings ratio of -54.25, a price-to-earnings-growth ratio of 1.30 and a beta of 1.11.

Ag Growth International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 15th were given a dividend of $0.15 per share. The ex-dividend date was Monday, September 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.1%. Ag Growth International’s dividend payout ratio (DPR) is -166.67%.

About Ag Growth International

Ag Growth International Inc manufactures portable and stationary grain handling, storage, and conditioning equipment, including augers, belt conveyors, grain storage bins, grain handling accessories, grain aeration equipment, and grain drying systems. The company operates mainly in Portable handling, permanent handling, storage and conditioning, livestock, and manufacturing sectors.