CIBC Forecasts Strong Price Appreciation for Ag Growth International (TSE:AFN) Stock

Ag Growth International (TSE:AFN) had its price target upped by CIBC from C$48.00 to C$52.00 in a research note issued to investors on Thursday,BayStreet.CA reports.

Several other analysts have also recently issued reports on AFN. Atb Cap Markets cut Ag Growth International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. ATB Capital dropped their price objective on shares of Ag Growth International from C$57.00 to C$46.00 and set a “sector perform” rating for the company in a research note on Friday, March 7th. Royal Bank of Canada reduced their target price on shares of Ag Growth International from C$45.00 to C$40.00 and set a “sector perform” rating on the stock in a report on Friday, March 7th. Raymond James raised shares of Ag Growth International from a “market perform” rating to an “outperform” rating and lowered their price target for the company from C$52.00 to C$47.00 in a report on Friday, March 7th. Finally, Desjardins dropped their price target on Ag Growth International from C$49.00 to C$46.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$50.13.

Ag Growth International Stock Down 0.4 %

AFN opened at C$32.31 on Thursday. Ag Growth International has a 52 week low of C$30.81 and a 52 week high of C$62.37. The company has a quick ratio of 0.84, a current ratio of 1.41 and a debt-to-equity ratio of 277.31. The firm has a 50-day simple moving average of C$34.99 and a two-hundred day simple moving average of C$43.97. The company has a market capitalization of C$617.53 million, a PE ratio of 25.80, a price-to-earnings-growth ratio of 1.30 and a beta of 2.29.

Ag Growth International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.86%. Ag Growth International’s dividend payout ratio is 47.90%.

Insider Buying and Selling

In related news, Senior Officer Paul David Householder bought 4,000 shares of Ag Growth International stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of C$36.01 per share, with a total value of C$144,040.00. Also, Director Anne De Greef-Safft purchased 2,000 shares of the firm’s stock in a transaction dated 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. In the last three months, insiders acquired 12,000 shares of company stock valued at $436,101. Insiders own 1.06% of the company’s stock.

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.