Ag Growth International (TSE:AFN) Trading Down 4.9% After Analyst Downgrade

Shares of Ag Growth International Inc. (TSE:AFN - Get Free Report) fell 4.9% on Thursday after ATB Capital lowered their price target on the stock from C$57.00 to C$46.00. ATB Capital currently has a sector perform rating on the stock. Ag Growth International traded as low as C$31.60 and last traded at C$32.78. 82,103 shares were traded during mid-day trading, a decline of 24% from the average session volume of 108,733 shares. The stock had previously closed at C$34.46.

A number of other research firms have also recently weighed in on AFN. National Bankshares dropped their target price on shares of Ag Growth International from C$55.00 to C$51.00 and set an "outperform" rating on the stock in a research note on Friday. CIBC dropped their price objective on shares of Ag Growth International from C$56.00 to C$48.00 and set an "outperform" rating on the stock in a report on Friday. Raymond James upgraded 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. Atb Cap Markets downgraded Ag Growth International from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Finally, TD Securities decreased their price objective on Ag Growth International from C$57.00 to C$48.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$50.50.

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Insider Buying and Selling at Ag Growth International

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

Ag Growth International Trading Up 1.2 %

The company has a quick ratio of 0.84, a current ratio of 1.41 and a debt-to-equity ratio of 277.31. The company has a market capitalization of C$700.10 million, a PE ratio of 29.25, a price-to-earnings-growth ratio of 1.30 and a beta of 2.29. The stock's fifty day moving average price is C$40.13 and its two-hundred day moving average price is C$48.23.

Ag Growth International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Tuesday, December 31st. Ag Growth International's payout ratio is 47.90%.

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.