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

AGF Management Limited (TSE:AGF.B)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as C$16.59 and last traded at C$16.55, with a volume of 36443 shares. The stock had previously closed at C$16.22.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AGF.B shares. Jefferies Financial Group raised 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 increased their price target on AGF Management from C$12.00 to C$15.00 in a research report on Tuesday, September 16th. TD Securities raised their price target on AGF Management from C$17.00 to C$18.00 in a research note on Tuesday, November 4th. Desjardins boosted their price target on AGF Management from C$16.50 to C$17.75 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Finally, Scotiabank upped their price objective on AGF Management from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$16.79.

AGF Management Stock Up 1.0%

The stock has a market cap of C$1.04 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 1.18 and a beta of 1.62. The firm has a 50 day simple moving average of C$14.83 and a 200-day simple moving average of C$13.65. 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 Wednesday, September 24th. The company reported C$0.46 earnings per share for the quarter. AGF Management had a return on equity of 7.64% and a net margin of 16.58%.The business had revenue of C$107.50 million for the quarter. On average, equities research analysts forecast that AGF Management Limited will post 1.5610119 earnings per share 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.