AGF Management (TSE:AGF.B) Stock Passes Above 200 Day Moving Average – Here’s Why

AGF Management Limited (TSE:AGF.B) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$15.86 and traded as high as C$19.49. AGF Management shares last traded at C$19.13, with a volume of 133,046 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AGF.B shares. Scotiabank boosted their target price on shares of AGF Management from C$17.50 to C$18.25 and gave the company a “sector perform” rating in a research note on Wednesday, January 28th. Royal Bank Of Canada raised their price target on shares of AGF Management from C$18.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. TD Securities lifted their price target on shares of AGF Management from C$18.00 to C$20.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, Desjardins upped their price objective on AGF Management from C$18.50 to C$20.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$18.54.

AGF Management Price Performance

The business’s 50-day moving average price is C$18.55 and its 200 day moving average price is C$15.86. The company has a market capitalization of C$1.23 billion, a P/E ratio of 10.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.59. The company has a quick ratio of 1.75, a current ratio of 1.19 and a debt-to-equity ratio of 11.27.

AGF Management (TSE:AGF.B) last posted its earnings results on Tuesday, January 27th. The company reported C$0.62 earnings per share for the quarter. AGF Management had a net margin of 16.58% and a return on equity of 7.64%. The business had revenue of C$120.30 million for the quarter. Analysts anticipate 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.