CIBC Forecasts Strong Price Appreciation for Ag Growth International (TSE:AFN) Stock

Ag Growth International (TSE:AFN) had its price target increased by CIBC from C$48.00 to C$52.00 in a report published on Thursday,BayStreet.CA reports.

Other research analysts have also issued research reports about the stock. Raymond James upgraded shares of Ag Growth International from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from C$52.00 to C$47.00 in a report on Friday, March 7th. National Bankshares cut their price target on shares of Ag Growth International from C$51.00 to C$49.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Royal Bank of Canada reduced their price objective on shares of Ag Growth International from C$45.00 to C$40.00 and set a “sector perform” rating on the stock in a research note on Friday, March 7th. 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, ATB Capital reduced their price target on Ag Growth International from C$57.00 to C$46.00 and set a “sector perform” rating on the stock in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Ag Growth International currently has a consensus rating of “Moderate Buy” and an average price target of C$50.13.

Ag Growth International Price Performance

Ag Growth International stock opened at C$32.31 on Thursday. The stock has a 50-day moving average price of C$35.10 and a two-hundred day moving average price of C$44.19. Ag Growth International has a 12 month low of C$30.81 and a 12 month high of C$62.37. The company has a market capitalization of C$617.53 million, a PE ratio of 25.80, a P/E/G ratio of 1.30 and a beta of 2.29. The company has a current ratio of 1.41, a quick ratio of 0.84 and a debt-to-equity ratio of 277.31.

Ag Growth International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Monday, March 31st. Ag Growth International’s dividend payout ratio is 47.90%.

Insider Buying and Selling

In related news, Director Anne De Greef-Safft bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of C$36.99 per share, with a total value of C$73,985.00. Also, Senior Officer Paul David Householder purchased 4,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost of C$36.01 per share, with a total value of C$144,040.00. Insiders acquired 12,000 shares of company stock valued at $436,101 over the last 90 days. Company insiders own 1.06% of the company’s stock.

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.