Ag Growth International (TSE:AFN) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Ag Growth International Inc. shares surpassed their 200-day moving average of C$38.54, reaching a high of C$39.26 during trading on Monday.
• Analysts from ATB Capital and Raymond James have significantly raised their price targets for the stock to C$47.00 and C$52.00 respectively, indicating positive sentiment with multiple upgrades to "buy" ratings.
• The company currently holds a market cap of C$736.02 million with a consensus price target of C$50.71 among analysts, reflecting strong growth expectations.

Shares of Ag Growth International Inc. (TSE:AFN - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$38.54 and traded as high as C$39.26. Ag Growth International shares last traded at C$39.15, with a volume of 60,519 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. ATB Capital increased their price objective on shares of Ag Growth International from C$43.00 to C$47.00 and gave the company a "sector perform" rating in a research report on Thursday, June 19th. TD Securities boosted 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. Desjardins lifted their target price on Ag Growth International from C$47.00 to C$49.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Atb Cap Markets upgraded Ag Growth International from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 5th. Finally, Raymond James Financial raised their price target on 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. One 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, the company currently has an average rating of "Buy" and an average target price of C$50.71.

Ag Growth International Stock Performance

The firm's 50-day simple moving average is C$41.53 and its 200-day simple moving average is C$38.60. The company has a current ratio of 1.41, a quick ratio of 0.84 and a debt-to-equity ratio of 277.31. The company has a market capitalization of C$714.40 million, a PE ratio of -105.56, a PEG ratio of 1.30 and a beta of 1.46.

Ag Growth International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.6%. Ag Growth International's dividend payout ratio (DPR) is currently -166.67%.

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.