Ag Growth International (TSE:AFN) Downgraded by Royal Bank of Canada to “Sector Perform”

Royal Bank of Canada cut shares of Ag Growth International (TSE:AFN) from an outperform rating to a sector perform rating in a research note issued to investors on Thursday,BayStreet.CA reports. They currently have C$45.00 price target on the stock, down from their previous price target of C$75.00.

A number of other brokerages have also issued reports on AFN. TD Securities cut their target price on Ag Growth International from C$73.00 to C$57.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. ATB Capital lowered Ag Growth International from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$79.00 to C$63.00 in a research report on Tuesday, January 14th. CIBC cut their price objective on Ag Growth International from C$61.00 to C$58.00 in a research report on Thursday. Atb Cap Markets lowered Ag Growth International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Raymond James cut their price objective on Ag Growth International from C$62.00 to C$52.00 in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Ag Growth International has a consensus rating of “Moderate Buy” and an average target price of C$60.38.

Ag Growth International Stock Up 2.8 %

Shares of TSE AFN opened at C$39.53 on Thursday. The firm has a market cap of C$753.84 million, a price-to-earnings ratio of 26.01, a PEG ratio of 1.30 and a beta of 2.29. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 298.35. Ag Growth International has a 52-week low of C$37.61 and a 52-week high of C$64.51. The business’s 50 day moving average is C$48.57 and its two-hundred day moving average is C$51.65.

Ag Growth International (TSE:AFN) last announced its earnings results on Tuesday, November 5th. The company reported C$1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.66 by C($0.40). Ag Growth International had a net margin of 2.13% and a return on equity of 10.35%. During the same period in the previous year, the business posted $1.62 earnings per share. Research analysts predict that Ag Growth International will post 6.5761006 EPS for the current year.

Ag Growth International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 1.52%. Ag Growth International’s dividend payout ratio is currently 39.47%.

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.