AGF Management (TSE:AGF.B) Sets New 52-Week High After Analyst Upgrade

AGF Management Limited (TSE:AGF.B)’s stock price hit a new 52-week high during mid-day trading on Thursday after Desjardins raised their price target on the stock from C$17.75 to C$18.50. Desjardins currently has a buy rating on the stock. AGF Management traded as high as C$17.00 and last traded at C$16.88, with a volume of 196251 shares changing hands. The stock had previously closed at C$16.46.

A number of other equities analysts also recently commented on the stock. Scotiabank boosted their target price on shares of AGF Management from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a report on Thursday, September 25th. Royal Bank Of Canada set a C$18.00 price objective on shares of AGF Management and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Finally, TD Securities lifted their price target on shares of AGF Management from C$17.00 to C$18.00 in a report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$16.92.

AGF Management Trading Down 0.8%

The company has a current ratio of 1.19, a quick ratio of 1.75 and a debt-to-equity ratio of 11.27. The stock has a 50-day simple moving average of C$15.61 and a 200 day simple moving average of C$14.02. The company has a market cap of C$1.09 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 1.18 and a beta of 1.62.

AGF Management (TSE:AGF.B) last announced its quarterly earnings data on Wednesday, September 24th. The company reported C$0.46 earnings per share (EPS) for the quarter. AGF Management had a return on equity of 7.64% and a net margin of 16.58%.The firm had revenue of C$107.50 million during the quarter. As a group, equities research analysts predict that AGF Management Limited will post 1.5610119 EPS for the current fiscal year.

AGF Management Company Profile

AGF Management is a Canadian-based asset manager with operations and investments in Canada, the United States, the United Kingdom, Ireland, and Asia. At the end of May 2022, the firm had CAD 40.3 billion in total assets under management. AGF Management’s funds are weighted more heavily toward equities, with just over two thirds of retail AUM being equity related. That said, the company does use fundamental, quantitative and alternative strategies to manages its investment funds. AGF Management has a more meaningful portion of its business tied to institutional clients than its peers, with 26% of AUM derived from institutional and subadvised accounts.