CIBC Increases Ag Growth International (TSE:AFN) Price Target to C$47.00

Ag Growth International (TSE:AFN) had its price objective hoisted by CIBC from C$45.00 to C$47.00 in a research note released on Tuesday, BayStreet.CA reports.

Other research analysts also recently issued research reports about the stock. ATB Capital lifted their target price on shares of Ag Growth International from C$52.00 to C$54.00 and gave the stock an outperform rating in a report on Friday, November 12th. Royal Bank of Canada lifted their target price on shares of Ag Growth International from C$40.00 to C$42.00 and gave the stock an outperform rating in a report on Friday, November 12th. Scotiabank lifted their target price on shares of Ag Growth International from C$38.00 to C$39.00 and gave the stock a sector perform rating in a report on Monday, January 10th. National Bank Financial upgraded shares of Ag Growth International from a sector perform overweight rating to an outperform overweight rating in a report on Monday, November 29th. Finally, National Bankshares upgraded shares of Ag Growth International from a sector perform rating to an outperform rating and lifted their target price for the stock from C$37.00 to C$46.00 in a report on Monday, November 29th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Ag Growth International currently has an average rating of Buy and an average price target of C$46.13.

Ag Growth International stock opened at C$32.45 on Tuesday. The company has a market capitalization of C$609.74 million and a P/E ratio of 52.59. The firm’s fifty day simple moving average is C$32.21 and its 200-day simple moving average is C$31.09. The company has a current ratio of 1.27, a quick ratio of 0.61 and a debt-to-equity ratio of 320.82. Ag Growth International has a 1-year low of C$25.85 and a 1-year high of C$48.47.

Ag Growth International (TSE:AFN) last released its quarterly earnings results on Wednesday, November 10th. The company reported C$1.02 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.78 by C$0.24. The business had revenue of C$313.69 million for the quarter, compared to the consensus estimate of C$330.60 million. On average, equities research analysts predict that Ag Growth International will post 3.25 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 14th. Shareholders of record on Friday, December 31st were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, December 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.85%. Ag Growth International’s dividend payout ratio is currently 97.24%.

In related news, Senior Officer Timothy Jackson Close bought 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, November 23rd. The stock was acquired at an average price of C$33.22 per share, for a total transaction of C$36,542.00. Following the transaction, the insider now directly owns 158,585 shares of the company’s stock, valued at C$5,268,193.70.

Ag Growth International Company Profile

Ag Growth International Inc, together with its subsidiaries, manufactures and distributes grain and rice handling, storage, and conditioning equipment in Canada, the United States, and internationally. It offers portable handling equipment, such as portable augers, conveyors, grain vacs, post pounders, seed treaters, and accessories; and permanent handling equipment, including bucket elevators, chain and belt conveyors, enclosed belt conveyors, distributors, feed handling equipment, screw feeders and conveyors, and spouts and connections.

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Analyst Recommendations for Ag Growth International (TSE:AFN)

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