Ag Growth International (TSE:AFN) Downgraded by Raymond James to "Market Perform"

Raymond James lowered shares of Ag Growth International (TSE:AFN - Free Report) from an outperform rating to a market perform rating in a report published on Friday, BayStreet.CA reports. They currently have C$62.00 price objective on the stock, down from their previous price objective of C$72.00.

Several other analysts have also recently issued reports on AFN. TD Securities cut their target price on Ag Growth International from C$79.00 to C$77.00 and set a "buy" rating for the company in a research report on Monday, August 12th. CIBC cut their price objective on shares of Ag Growth International from C$78.00 to C$75.00 and set an "outperform" rating for the company in a report on Wednesday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$75.67.

Ag Growth International Stock Performance

Shares of TSE:AFN traded down C$2.09 during mid-day trading on Friday, reaching C$47.89. 432,360 shares of the company traded hands, compared to its average volume of 60,932. Ag Growth International has a 52 week low of C$45.96 and a 52 week high of C$64.51. The firm has a market cap of C$913.26 million, a PE ratio of 31.51, a PEG ratio of 1.30 and a beta of 2.29. The company's 50 day moving average price is C$53.96 and its 200-day moving average price is C$53.79. The company has a debt-to-equity ratio of 298.35, a current ratio of 1.49 and a quick ratio of 0.84.

Ag Growth International (TSE:AFN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported C$1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$1.67 by C($0.25). Ag Growth International had a return on equity of 10.35% and a net margin of 2.13%. The firm had revenue of C$351.78 million during the quarter, compared to analysts' expectations of C$397.51 million. On average, equities analysts expect that Ag Growth International will post 6.5761006 EPS for the current fiscal year.

Ag Growth International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Friday, September 27th. Ag Growth International's payout ratio is 39.47%.

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.