AGF Management (TSE:AGF.B) Shares Pass Above 200 Day Moving Average – Here’s What Happened

AGF Management Limited (TSE:AGF.B)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$15.60 and traded as high as C$19.65. AGF Management shares last traded at C$19.28, with a volume of 146,698 shares changing hands.

Wall Street Analysts Forecast Growth

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

AGF Management Price Performance

The stock has a market cap of C$1.24 billion, a PE ratio of 10.09, a P/E/G ratio of 1.18 and a beta of 1.59. The company has a debt-to-equity ratio of 11.27, a quick ratio of 1.75 and a current ratio of 1.19. The business has a 50 day moving average price of C$18.24 and a two-hundred day moving average price of C$15.60.

AGF Management (TSE:AGF.B) last issued its quarterly earnings results on Tuesday, January 27th. The company reported C$0.62 EPS for the quarter. The company had revenue of C$120.30 million during the quarter. AGF Management had a return on equity of 7.64% and a net margin of 16.58%. Research analysts expect 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.