AGF Management (TSE:AGF.B) Hits New 12-Month High After Analyst Upgrade

AGF Management Limited (TSE:AGF.B)’s stock price 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 trading hands. The stock had previously closed at C$17.14.

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

AGF Management Price Performance

The company has a quick ratio of 1.75, a current ratio of 1.19 and a debt-to-equity ratio of 11.27. The firm 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 stock has a 50 day moving average price of C$15.97 and a two-hundred day moving average price of C$14.17.

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