AGF Management (TSE:AGF.B) Hits New 12-Month High – Still a Buy?

AGF Management Limited (TSE:AGF.B) hit a new 52-week high on Tuesday . The stock traded as high as C$16.40 and last traded at C$16.35, with a volume of 58907 shares. The stock had previously closed at C$16.20.

Analysts Set New Price Targets

A number of research firms have issued reports on AGF.B. TD Securities raised their price target on shares of AGF Management from C$17.00 to C$18.00 in a report on Tuesday, November 4th. Scotiabank lifted their price target on AGF Management from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 25th. Jefferies Financial Group increased their price objective on AGF Management from C$14.50 to C$16.00 and gave the company a “buy” rating in a report on Friday, September 19th. BMO Capital Markets lifted their target price on AGF Management from C$12.00 to C$15.00 in a report on Tuesday, September 16th. Finally, Desjardins increased their price target on shares of AGF Management from C$16.50 to C$17.75 and gave the stock a “buy” rating in a report on Thursday, September 25th. Four equities 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, AGF Management presently has a consensus rating of “Moderate Buy” and a consensus price target of C$16.79.

AGF Management Stock Up 0.1%

The business’s fifty day moving average price is C$14.47 and its 200 day moving average price is C$13.43. The firm has a market capitalization of C$1.04 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 1.18 and a beta of 1.43. The company has a current ratio of 1.19, a quick ratio of 1.75 and a debt-to-equity ratio of 11.27.

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

About AGF Management

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.