Ag Growth International (TSE:AFN) Reaches New 52-Week Low – What’s Next?

Ag Growth International Inc. (TSE:AFN)’s share price reached a new 52-week low on Friday . The company traded as low as C$31.60 and last traded at C$32.04, with a volume of 138574 shares. The stock had previously closed at C$34.04.

Analyst Upgrades and Downgrades

AFN has been the subject of several analyst reports. CIBC lowered their price objective on Ag Growth International from C$56.00 to C$48.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. TD Securities lowered their price target on Ag Growth International from C$48.00 to C$46.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Royal Bank of Canada dropped their price objective on shares of Ag Growth International from C$45.00 to C$40.00 and set a “sector perform” rating for the company in a research note on Friday, March 7th. ATB Capital reduced their target price on shares of Ag Growth International from C$57.00 to C$46.00 and set a “sector perform” rating on the stock in a research note on Friday, March 7th. Finally, Raymond James raised shares of Ag Growth International from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from C$52.00 to C$47.00 in a research note on Friday, March 7th. Three equities 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.com, Ag Growth International currently has a consensus rating of “Moderate Buy” and an average target price of C$50.25.

Ag Growth International Price Performance

The firm has a market capitalization of C$611.99 million, a P/E ratio of 25.56, a P/E/G ratio of 1.30 and a beta of 2.29. The stock’s 50 day simple moving average is C$36.43 and its 200 day simple moving average is C$45.72. The company has a debt-to-equity ratio of 277.31, a quick ratio of 0.84 and a current ratio of 1.41.

Ag Growth International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be paid a $0.15 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 1.87%. Ag Growth International’s dividend payout ratio (DPR) is currently 47.90%.

Insider Buying and Selling at Ag Growth International

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

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.