AGT Food and Ingredients Inc (AGT) Trading Down 6%

Shares of AGT Food and Ingredients Inc (TSE:AGT) were down 6% during trading on Friday . The stock traded as low as C$22.19 and last traded at C$22.85. Approximately 459,703 shares were traded during mid-day trading, an increase of 441% from the average daily volume of 85,017 shares. The stock had previously closed at C$24.30.

Several analysts have commented on AGT shares. CIBC lowered their price objective on shares of AGT Food and Ingredients from C$33.00 to C$32.00 and set an “outperform” rating on the stock in a research report on Friday, August 11th. Raymond James Financial, Inc. lowered their price objective on shares of AGT Food and Ingredients from C$35.00 to C$32.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 26th. Finally, Scotiabank lowered their price objective on shares of AGT Food and Ingredients from C$26.50 to C$26.00 and set a “sector perform” rating on the stock in a research report on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of C$31.80.

The firm’s market cap is $552.58 million. The stock’s 50 day moving average is $24.89 and its 200-day moving average is $26.18.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 11th. Stockholders of record on Wednesday, October 11th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, September 28th.

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AGT Food and Ingredients Company Profile

AGT Food and Ingredients Inc (AGT), formerly Alliance Grain Traders Inc, is a processor and splitter of pulse crops. The Company is engaged in pulse and staple food processing and distribution, with processing facilities and sales offices located around the world. It operates in three segments: Pulse and Grain Processing, which includes the operations of AGT subsidiaries and facilities in Canada, the United States, Australia, China and a portion of the operations in Turkey; Trading and Distribution, which includes operations in Europe, Russia, India and a portion of the operations in Canada, Turkey and Australia, and Food Ingredients and Packaged Foods, which include subsidiaries and facilities in the United States, Canada, South Africa and a portion of the operations in Turkey.

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