AGF Management (TSE:AGF.B) Hits New 52-Week High on Analyst Upgrade

AGF Management Limited (TSE:AGF.B)’s share price reached a new 52-week high during 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 trading hands. The stock had previously closed at C$16.46.

Other equities research analysts also recently issued research reports about the company. Scotiabank lifted their target price on 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 company an “outperform” rating in a research note on Wednesday, December 10th. Finally, TD Securities upped their price objective on shares of AGF Management from C$17.00 to C$18.00 in a report on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$16.92.

AGF Management Stock Performance

The firm’s 50 day moving average is C$15.61 and its 200-day moving average is C$14.02. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 11.27, a quick ratio of 1.75 and a current ratio of 1.19.

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