Ag Growth International Inc. (TSE:AFN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Ag Growth International Inc. (TSE:AFN) have been given a consensus rating of “Moderate Buy” by the eight analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$47.86.

A number of research firms have recently issued reports on AFN. CIBC lowered their target price on Ag Growth International from C$52.00 to C$49.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. TD Securities raised their price objective on shares of Ag Growth International from C$46.00 to C$48.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Royal Bank of Canada upgraded Ag Growth International from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$40.00 to C$50.00 in a report on Thursday, May 8th. Raymond James upgraded shares of Ag Growth International from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from C$52.00 to C$47.00 in a report on Friday, March 7th. Finally, ATB Capital decreased their target price on Ag Growth International from C$46.00 to C$43.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 7th.

Insider Buying and Selling

In other news, Director Janet Giesselman purchased 6,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of C$36.35 per share, with a total value of C$218,076.00. Also, Senior Officer Paul David Householder acquired 4,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of C$36.01 per share, with a total value of C$144,040.00. Insiders have bought a total of 12,000 shares of company stock worth $436,101 in the last ninety days. Corporate insiders own 1.06% of the company’s stock.

Ag Growth International Stock Down 2.3%

Shares of TSE AFN opened at C$38.17 on Wednesday. Ag Growth International has a 52-week low of C$30.81 and a 52-week high of C$58.14. The business’s 50 day moving average is C$34.60 and its two-hundred day moving average is C$41.62. 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 firm has a market cap of C$729.53 million, a price-to-earnings ratio of 30.48, a PEG ratio of 1.30 and a beta of 2.29.

Ag Growth International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.57%. Ag Growth International’s dividend payout ratio is presently 47.90%.

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.