Ag Growth International (TSE:AFN) Hits New 12-Month Low – Here’s Why

Ag Growth International Inc. (TSE:AFN)’s share price hit a new 52-week low on Thursday . The stock traded as low as C$18.07 and last traded at C$18.12, with a volume of 360563 shares trading hands. The stock had previously closed at C$19.01.

Analysts Set New Price Targets

A number of research firms have commented on AFN. Cibc Captl Mkts downgraded Ag Growth International from a “strong-buy” rating to a “hold” rating in a report on Monday. TD Securities raised their price objective on Ag Growth International from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Raymond James Financial downgraded shares of Ag Growth International from a “moderate buy” rating to a “hold” rating in a report on Thursday, November 13th. Royal Bank Of Canada cut shares of Ag Growth International from a “moderate buy” rating to a “hold” rating and dropped their target price for the stock from C$50.00 to C$25.00 in a report on Monday. Finally, Atb Cap Markets upgraded shares of Ag Growth International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$44.57.

Ag Growth International Price Performance

The company has a debt-to-equity ratio of 277.31, a quick ratio of 0.84 and a current ratio of 1.41. The stock has a market capitalization of C$340.09 million, a price-to-earnings ratio of -50.25, a price-to-earnings-growth ratio of 1.30 and a beta of 1.11. The business’s 50 day simple moving average is C$34.64 and its 200-day simple moving average is C$38.66.

Ag Growth International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, September 29th. Ag Growth International’s dividend payout ratio is -166.67%.

About Ag Growth International

Ag Growth International Inc manufactures portable and stationary grain handling, storage, and conditioning equipment, including augers, belt conveyors, grain storage bins, grain handling accessories, grain aeration equipment, and grain drying systems. The company operates mainly in Portable handling, permanent handling, storage and conditioning, livestock, and manufacturing sectors.