Ag Growth International (TSE:AFN) Rating Increased to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Ag Growth International (TSE:AFN) from a sector perform rating to an outperform rating in a research report released on Thursday morning,BayStreet.CA reports. Royal Bank of Canada currently has C$50.00 price target on the stock, up from their previous price target of C$40.00.

A number of other research analysts also recently weighed in on the company. National Bankshares raised their price target on Ag Growth International from C$49.00 to C$51.00 and gave the company an “outperform” rating in a research note on Wednesday. ATB Capital dropped their price objective on Ag Growth International from C$46.00 to C$43.00 and set a “sector perform” rating for the company in a report on Wednesday. Desjardins upped their price target on shares of Ag Growth International from C$46.00 to C$47.00 and gave the stock a “buy” rating in a report on Wednesday. Atb Cap Markets lowered shares of Ag Growth International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, CIBC dropped their target price on Ag Growth International from C$52.00 to C$49.00 and set an “outperform” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$47.86.

Ag Growth International Price Performance

AFN opened at C$38.35 on Thursday. The company’s 50 day simple moving average is C$34.10 and its 200-day simple moving average is C$42.22. 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 stock has a market capitalization of C$732.97 million, a P/E ratio of 30.62, a price-to-earnings-growth ratio of 1.30 and a beta of 2.29. Ag Growth International has a one year low of C$30.81 and a one year high of C$58.14.

Ag Growth International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.56%. Ag Growth International’s dividend payout ratio (DPR) is 47.90%.

Insider Activity

In other Ag Growth International news, Director Anne De Greef-Safft purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of C$36.99 per share, with a total value of C$73,985.00. Also, Director Janet Giesselman acquired 6,000 shares of the stock in a transaction on Friday, March 7th. The shares were acquired at an average price of C$36.35 per share, with a total value of C$218,076.00. Over the last ninety days, insiders acquired 12,000 shares of company stock worth $436,101. 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.