Scotiabank Raises AGF Management (TSE:AGF.B) Price Target to C$18.25

AGF Management (TSE:AGF.B) had its target price upped by investment analysts at Scotiabank from C$17.50 to C$18.25 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential downside of 1.78% from the stock’s current price.

Other research analysts have also issued research reports about the company. TD Securities lifted their price target on AGF Management from C$17.00 to C$18.00 in a research report on Tuesday, November 4th. Desjardins raised their target price on shares of AGF Management from C$17.75 to C$18.50 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada set a C$18.00 price target on shares of AGF Management and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$18.54.

AGF Management Price Performance

Shares of AGF.B opened at C$18.58 on Wednesday. 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 has a 1-year low of C$8.65 and a 1-year high of C$18.63. The stock has a market cap of C$1.18 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.18 and a beta of 1.62. The firm has a fifty day moving average price of C$15.97 and a 200 day moving average price of C$14.17.

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. AGF Management had a return on equity of 7.64% and a net margin of 16.58%.The company had revenue of C$107.50 million for the quarter. As a group, sell-side analysts anticipate that AGF Management 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.