Ag Growth International (TSE:AFN) Reaches New 52-Week Low - Here's What Happened

Shares of Ag Growth International Inc. (TSE:AFN - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$35.49 and last traded at C$35.77, with a volume of 49434 shares changing hands. The stock had previously closed at C$35.98.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. TD Securities cut their price target on Ag Growth International from C$57.00 to C$48.00 and set a "buy" rating for the company in a report on Wednesday. CIBC cut their target price 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. Atb Cap Markets downgraded shares of Ag Growth International from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Raymond James raised shares of Ag Growth International from a "market perform" rating to an "outperform" rating and reduced their price objective for the company from C$52.00 to C$47.00 in a research note on Friday. Finally, Desjardins lowered their target price on shares of Ag Growth International from C$57.00 to C$49.00 and set a "buy" rating on the stock in a research note on Friday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$50.50.

Ag Growth International Price Performance

The firm has a market capitalization of C$691.88 million, a P/E ratio of 28.90, a PEG ratio of 1.30 and a beta of 2.29. The business's 50-day simple moving average is C$41.04 and its 200 day simple moving average is C$48.67. The company has a quick ratio of 0.84, a current ratio of 1.41 and a debt-to-equity ratio of 277.31.

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Ag Growth International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.66%. The ex-dividend date was Tuesday, December 31st. Ag Growth International's dividend payout ratio (DPR) is currently 47.90%.

Insider Activity

In other news, Director Janet Giesselman bought 6,000 shares of the stock in a transaction dated Friday, March 7th. The stock was bought at an average price of C$36.35 per share, for a total transaction of C$218,076.00. Insiders own 1.06% of the company's stock.

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.