Ag Growth International (TSE:AFN) Hits New 1-Year Low – Here’s Why

Ag Growth International Inc. (TSE:AFN)’s stock price hit a new 52-week low on Tuesday . The company traded as low as C$35.70 and last traded at C$35.70, with a volume of 18069 shares traded. The stock had previously closed at C$36.53.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. CIBC reduced their target price on shares of Ag Growth International from C$61.00 to C$58.00 in a research note on Thursday, January 30th. Royal Bank of Canada lowered shares of Ag Growth International from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$75.00 to C$45.00 in a research note on Thursday, January 30th. Raymond James lowered their target price on shares of Ag Growth International from C$62.00 to C$52.00 in a report on Tuesday, January 14th. National Bankshares decreased their price target on Ag Growth International from C$67.00 to C$55.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Finally, Atb Cap Markets lowered shares of Ag Growth International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$60.38.

Ag Growth International Price Performance

The firm has a market capitalization of C$698.57 million, a PE ratio of 29.18, a P/E/G ratio of 1.30 and a beta of 2.29. 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 business’s 50 day moving average is C$43.32 and its two-hundred day moving average is C$49.57.

Ag Growth International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Tuesday, December 31st. Ag Growth International’s dividend payout ratio is currently 47.90%.

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.