Desjardins Cuts Ag Growth International (TSE:AFN) Price Target to C$78.00

Ag Growth International (TSE:AFN) had its target price lowered by Desjardins from C$86.00 to C$78.00 in a research report released on Wednesday morning, BayStreet.CA reports. The firm currently has a buy rating on the stock. Desjardins also issued estimates for Ag Growth International’s FY2024 earnings at $5.76 EPS and FY2025 earnings at $6.57 EPS.

Other analysts have also recently issued research reports about the stock. TD Securities upped their price objective on shares of Ag Growth International from C$75.00 to C$83.00 and gave the company a buy rating in a research note on Thursday, March 7th. Royal Bank of Canada raised their target price on Ag Growth International from C$75.00 to C$80.00 and gave the stock an outperform rating in a research note on Friday, March 8th. Scotiabank lowered their price target on shares of Ag Growth International from C$88.00 to C$75.00 and set an outperform rating on the stock in a research report on Wednesday. ATB Capital cut their price objective on shares of Ag Growth International from C$85.00 to C$81.00 and set an outperform rating for the company in a research report on Tuesday. Finally, CIBC lifted their price target on shares of Ag Growth International from C$78.00 to C$82.00 and gave the company an outperform rating in a research report on Thursday, March 7th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of C$78.22.

Ag Growth International Price Performance

Shares of TSE AFN opened at C$50.07 on Wednesday. The firm’s 50 day simple moving average is C$60.49 and its 200-day simple moving average is C$55.28. Ag Growth International has a 12 month low of C$47.07 and a 12 month high of C$64.51. The stock has a market capitalization of C$951.83 million, a price-to-earnings ratio of 14.49, a PEG ratio of 1.30 and a beta of 2.32. The company has a debt-to-equity ratio of 285.22, a current ratio of 1.21 and a quick ratio of 0.84.

Ag Growth International (TSE:AFN) last issued its quarterly earnings data on Tuesday, March 5th. The company reported C$1.70 EPS for the quarter, beating the consensus estimate of C$1.08 by C$0.62. The company had revenue of C$379.32 million for the quarter, compared to analyst estimates of C$414.68 million. Ag Growth International had a return on equity of 23.61% and a net margin of 4.51%. Analysts expect that Ag Growth International will post 5.9042146 EPS for the current year.

Ag Growth International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.20%. Ag Growth International’s dividend payout ratio is currently 17.44%.

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.