Ag Growth International Inc. (TSE:AFN) Receives Average Rating of "Buy" from Brokerages

Key Points

• Ag Growth International Inc. has received an average rating of "Buy" from eight ratings firms, with one analyst rating the stock a hold, six issuing buy recommendations, and one a strong buy.
• The company has announced a quarterly dividend of $0.15 per share, representing an annualized dividend yield of 1.6%.
• Recently, various brokerages have raised their price targets for the stock, with Raymond James Financial setting a target of C$52.00 and Desjardins adjusting their target to C$49.00.

Ag Growth International Inc. (TSE:AFN - Get Free Report) has received an average rating of "Buy" from the eight ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$50.71.

A number of brokerages have commented on AFN. Desjardins increased their price target on shares of Ag Growth International from C$47.00 to C$49.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Raymond James Financial increased their price target on shares of Ag Growth International from C$47.00 to C$52.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. ATB Capital increased their price objective on Ag Growth International from C$43.00 to C$47.00 and gave the company a "sector perform" rating in a research note on Thursday, June 19th. TD Securities raised their target price on shares of Ag Growth International from C$55.00 to C$57.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Atb Cap Markets upgraded shares of Ag Growth International from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 5th.

Ag Growth International Stock Down 0.4%

Shares of TSE AFN opened at C$37.83 on Tuesday. Ag Growth International has a one year low of C$30.81 and a one year high of C$55.41. 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 firm's 50 day simple moving average is C$41.44 and its two-hundred day simple moving average is C$38.66. The stock has a market capitalization of C$711.20 million, a P/E ratio of -105.08, a PEG ratio of 1.30 and a beta of 1.46.

Ag Growth International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.6%. Ag Growth International's dividend payout ratio is -166.67%.

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.

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