Ag Growth International (TSE:AFN) Lowered to “Neutral” Rating by CIBC

CIBC downgraded shares of Ag Growth International (TSE:AFN) from an outperform rating to a neutral rating in a report published on Monday morning,BayStreet.CA reports. They currently have C$33.00 target price on the stock, down from their prior target price of C$58.00.

Several other research analysts have also issued reports on AFN. Desjardins cut their price target on Ag Growth International from C$49.00 to C$47.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Royal Bank Of Canada lowered Ag Growth International from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$50.00 to C$25.00 in a research report on Monday. Raymond James Financial downgraded shares of Ag Growth International from a “moderate buy” rating to a “hold” rating in a research report on Thursday, November 13th. TD Securities boosted their price target on shares of Ag Growth International from C$55.00 to C$57.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, Atb Cap Markets upgraded shares of Ag Growth International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Ag Growth International currently has an average rating of “Moderate Buy” and a consensus target price of C$44.57.

Ag Growth International Price Performance

AFN stock opened at C$20.38 on Monday. The company has a debt-to-equity ratio of 277.31, a current ratio of 1.41 and a quick ratio of 0.84. The company’s 50-day moving average is C$35.45 and its 200-day moving average is C$38.89. The stock has a market capitalization of C$383.14 million, a PE ratio of -56.61, a price-to-earnings-growth ratio of 1.30 and a beta of 1.11. Ag Growth International has a 1 year low of C$18.65 and a 1 year high of C$55.41.

Ag Growth International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were paid a $0.15 dividend. The ex-dividend date was Monday, September 29th. This represents a $0.60 annualized dividend and a yield of 2.9%. Ag Growth International’s dividend payout ratio (DPR) is -166.67%.

About Ag Growth International

Ag Growth International Inc manufactures portable and stationary grain handling, storage, and conditioning equipment, including augers, belt conveyors, grain storage bins, grain handling accessories, grain aeration equipment, and grain drying systems. The company operates mainly in Portable handling, permanent handling, storage and conditioning, livestock, and manufacturing sectors.