Ag Growth International (TSE:AFN) Price Target Cut to C$61.00 by Analysts at CIBC

Ag Growth International (TSE:AFN) had its price objective reduced by CIBC from C$71.00 to C$61.00 in a research report report published on Friday morning, BayStreet.CA reports.

Several other analysts also recently weighed in on AFN. Royal Bank of Canada decreased their target price on Ag Growth International from C$65.00 to C$58.00 and set an outperform rating for the company in a research report on Friday. National Bank Financial decreased their target price on Ag Growth International from C$71.00 to C$63.00 and set an outperform rating for the company in a research report on Thursday. Finally, Raymond James reiterated an outperform rating and set a C$70.00 target price on shares of Ag Growth International in a research report on Wednesday, May 8th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of C$66.67.

Shares of TSE:AFN traded down C$0.69 on Friday, hitting C$45.44. 179,800 shares of the company’s stock were exchanged, compared to its average volume of 61,614. Ag Growth International has a 12 month low of C$43.76 and a 12 month high of C$64.72. The company has a market capitalization of $847.23 million and a PE ratio of 23.00. The stock’s 50 day simple moving average is C$53.46. The company has a debt-to-equity ratio of 189.57, a current ratio of 1.84 and a quick ratio of 0.93.

Ag Growth International (TSE:AFN) last released its earnings results on Tuesday, May 7th. The company reported C$0.27 earnings per share for the quarter, missing the consensus estimate of C$0.37 by C($0.10). The firm had revenue of C$216.20 million during the quarter, compared to analyst estimates of C$222.98 million. On average, research analysts anticipate that Ag Growth International will post 4.0599999 earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.40 annualized dividend and a dividend yield of 5.28%. Ag Growth International’s dividend payout ratio is currently 121.46%.

In other news, Director Gary Keith Anderson sold 30,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of C$55.92, for a total transaction of C$1,677,600.00. Following the transaction, the director now owns 72,348 shares in the company, valued at C$4,045,700.16.

Ag Growth International Company Profile

Ag Growth International Inc, together with its subsidiaries, manufactures and distributes grain handling, storage, and conditioning equipment in Canada, the United States, and internationally. The company offers portable handling equipment, such as portable augers, portable belt conveyors, grainvacs, and storm seed treaters; and permanent handling equipment, including TA tapered auger vertical blend systems, high-tonnage conveying systems, distributors, bulk weigh hoppers, enclosed belt conveyors, bucket elevators, rail and truck probes, VIS micro dosing systems, chain conveyors, truss and towers, screw feeders and conveyors, and spout and connections.

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Analyst Recommendations for Ag Growth International (TSE:AFN)

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