CIBC Issues Pessimistic Forecast for Ag Growth International (TSE:AFN) Stock Price

Ag Growth International (TSE:AFN) had its price target cut by CIBC from C$72.00 to C$61.00 in a research note published on Tuesday,BayStreet.CA reports.

AFN has been the subject of several other reports. Royal Bank of Canada decreased their price objective on Ag Growth International from C$80.00 to C$75.00 in a report on Thursday, November 7th. Raymond James reduced their price target on shares of Ag Growth International from C$62.00 to C$52.00 in a report on Tuesday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$67.25.

Ag Growth International Stock Down 2.1 %

TSE:AFN opened at C$38.96 on Tuesday. The company has a market cap 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 company has a current ratio of 1.49, a quick ratio of 0.84 and a debt-to-equity ratio of 298.35. Ag Growth International has a twelve month low of C$38.93 and a twelve month high of C$64.51. The stock has a fifty day simple moving average of C$51.28 and a 200-day simple moving average of C$52.61.

Ag Growth International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th were paid 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 1.54%. Ag Growth International’s payout ratio is 39.47%.

Ag Growth International Company Profile

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.