Ag Growth International (TSE:AFN) Downgraded by ATB Capital to Sector Perform

ATB Capital downgraded shares of Ag Growth International (TSE:AFN) from an outperform rating to a sector perform rating in a research note issued to investors on Tuesday,BayStreet.CA reports. ATB Capital currently has C$63.00 price objective on the stock, down from their previous price objective of C$79.00.

Several other equities analysts also recently issued reports on the stock. Royal Bank of Canada cut their price target on shares of Ag Growth International from C$80.00 to C$75.00 in a report on Thursday, November 7th. CIBC reduced their price objective on Ag Growth International from C$72.00 to C$61.00 in a research note on Tuesday. TD Securities lowered their price objective on shares of Ag Growth International from C$73.00 to C$57.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Raymond James dropped their target price on shares of Ag Growth International from C$62.00 to C$52.00 in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Ag Growth International has an average rating of “Moderate Buy” and a consensus target price of C$67.25.

Ag Growth International Stock Performance

Shares of TSE:AFN opened at C$38.96 on Tuesday. The stock has a market capitalization of C$742.97 million, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 1.30 and a beta of 2.29. The business’s fifty day moving average price is C$51.28 and its two-hundred day moving average price is C$52.61. Ag Growth International has a fifty-two week low of C$38.93 and a fifty-two week high of C$64.51. The company has a debt-to-equity ratio of 298.35, a current ratio of 1.49 and a quick ratio of 0.84.

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. This represents a $0.60 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Tuesday, December 31st. Ag Growth International’s dividend payout ratio is presently 39.47%.

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.