Ag Growth International (TSE:AFN) Stock Price Down 34.8% – What’s Next?

Ag Growth International Inc. (TSE:AFN) was down 34.8% during trading on Friday . The company traded as low as C$18.65 and last traded at C$21.16. Approximately 857,249 shares traded hands during mid-day trading, an increase of 909% from the average daily volume of 84,949 shares. The stock had previously closed at C$32.45.

Analyst Ratings Changes

A number of research firms recently commented on AFN. TD Securities increased their price objective on Ag Growth International from C$55.00 to C$57.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Atb Cap Markets raised Ag Growth International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 5th. Royal Bank Of Canada lowered their price target on Ag Growth International from C$55.00 to C$50.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Raymond James Financial boosted their target price on shares of Ag Growth International from C$47.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Finally, Desjardins cut their target price on Ag Growth International from C$49.00 to C$47.00 and set a “buy” rating on the stock in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$50.43.

Ag Growth International Stock Performance

The company has a debt-to-equity ratio of 277.31, a current ratio of 1.41 and a quick ratio of 0.84. The company has a market capitalization of C$393.86 million, a price-to-earnings ratio of -58.19, a PEG ratio of 1.30 and a beta of 1.11. The firm’s fifty day simple moving average is C$36.29 and its 200 day simple moving average is C$39.00.

Ag Growth International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were paid a $0.15 dividend. The ex-dividend date was Monday, September 29th. This represents a $0.60 dividend on an annualized basis and a yield of 2.9%. Ag Growth International’s 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.