AGF Management (TSE:AGF.B) Price Target Raised to C$20.00

AGF Management (TSE:AGF.B) had its price target raised by equities researchers at Desjardins from C$18.50 to C$20.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price objective would suggest a potential upside of 9.35% from the company’s current price.

A number of other brokerages have also commented on AGF.B. Scotiabank raised 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. TD Securities lifted their price objective on AGF Management from C$17.00 to C$18.00 in a report on Tuesday, November 4th. Finally, Royal Bank Of Canada set a C$18.00 target price on shares of AGF Management and gave the stock an “outperform” rating in a 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. Based on data from MarketBeat.com, AGF Management has a consensus rating of “Moderate Buy” and a consensus target price of C$18.54.

AGF Management Price Performance

AGF.B traded up C$0.05 during trading on Wednesday, reaching C$18.29. 218,720 shares of the company traded hands, compared to its average volume of 157,702. The company has a market cap of C$1.16 billion, a P/E ratio of 10.95, 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 has a 12-month low of C$8.65 and a 12-month high of C$18.63. The firm has a fifty day simple moving average of C$15.77 and a 200 day simple moving average of C$14.11.

AGF Management (TSE:AGF.B) last announced its quarterly earnings results on Wednesday, September 24th. The company reported C$0.46 earnings per share for the quarter. The company had revenue of C$107.50 million for the quarter. AGF Management had a net margin of 16.58% and a return on equity of 7.64%. On average, equities analysts forecast that AGF Management will post 1.5610119 EPS for the current 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.