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

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

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

Ag Growth International Price Performance

Shares of AFN stock opened at C$41.56 on Tuesday. Ag Growth International has a twelve month low of C$39.80 and a twelve month high of C$64.51. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 298.35. The business has a fifty day simple moving average of C$51.72 and a 200 day simple moving average of C$52.78. The company has a market cap of C$792.55 million, a P/E ratio of 27.34, a P/E/G ratio of 1.30 and a beta of 2.29.

Ag Growth International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.44%. Ag Growth International’s payout ratio is 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.