Ag Growth International (TSE:AFN) Hits New 12-Month Low – Here’s What Happened

Shares of Ag Growth International Inc. (TSE:AFN) hit a new 52-week low on Monday . The stock traded as low as C$43.54 and last traded at C$43.56, with a volume of 40385 shares traded. The stock had previously closed at C$47.23.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AFN. ATB Capital downgraded shares of Ag Growth International from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from C$79.00 to C$63.00 in a research note on Tuesday. CIBC cut their target price on Ag Growth International from C$72.00 to C$61.00 in a research report on Tuesday. TD Securities decreased their price target on Ag Growth International from C$73.00 to C$57.00 and set a “buy” rating on the stock in a research note on Tuesday. Royal Bank of Canada dropped their price objective on Ag Growth International from C$80.00 to C$75.00 in a research note on Thursday, November 7th. Finally, Raymond James decreased their target price on Ag Growth International from C$62.00 to C$52.00 in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to 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 Performance

The stock has a market capitalization of C$792.55 million, a PE ratio of 27.34, a price-to-earnings-growth ratio of 1.30 and a beta of 2.29. 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 stock has a fifty day moving average of C$51.72 and a 200-day moving average of C$52.78.

Ag Growth International Dividend Announcement

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