AGF Management (TSE:AGF.B) Reaches New 1-Year High on Analyst Upgrade

AGF Management Limited (TSE:AGF.B) shares hit a new 52-week high during mid-day trading on Wednesday after TD Securities raised their price target on the stock from C$18.00 to C$20.00. TD Securities currently has a buy rating on the stock. AGF Management traded as high as C$18.50 and last traded at C$18.24, with a volume of 584707 shares traded. The stock had previously closed at C$17.14.

Other research analysts have also issued reports about the company. Royal Bank Of Canada upped their target price on AGF Management from C$18.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Wednesday. Desjardins raised their price objective on shares of AGF Management from C$18.50 to C$20.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Scotiabank boosted their target price on shares of AGF Management from C$17.50 to C$18.25 and gave the stock a “sector perform” rating in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, AGF Management currently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.54.

AGF Management Stock Up 1.3%

The stock has a market capitalization of C$1.18 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 1.18 and a beta of 1.62. The firm has a 50 day moving average of C$15.97 and a 200-day moving average of C$14.17. The company has a debt-to-equity ratio of 11.27, a current ratio of 1.19 and a quick ratio of 1.75.

AGF Management (TSE:AGF.B) last issued its earnings results on Wednesday, September 24th. The company reported C$0.46 EPS for the quarter. The business had revenue of C$107.50 million during the quarter. AGF Management had a return on equity of 7.64% and a net margin of 16.58%. On average, equities research analysts expect 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.