AGF Management (TSE:AGF.B) Hits New 52-Week High – Time to Buy?

Shares of AGF Management Limited (TSE:AGF.B) reached a new 52-week high on Wednesday . The company traded as high as C$20.63 and last traded at C$20.04, with a volume of 40144 shares. The stock had previously closed at C$20.10.

Analyst Upgrades and Downgrades

AGF.B has been the topic of several analyst reports. Royal Bank Of Canada raised their price target on shares of AGF Management from C$18.00 to C$22.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. TD Securities raised their target price 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. Desjardins lifted their target price on AGF Management from C$18.50 to C$20.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Finally, Scotiabank increased their price target on AGF Management from C$17.50 to C$18.25 and gave the stock a “sector perform” rating in a research note on Wednesday, January 28th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, AGF Management has a consensus rating of “Moderate Buy” and an average price target of C$18.54.

AGF Management Trading Up 0.4%

The firm has a 50-day moving average price of C$17.48 and a 200-day moving average price of C$15.02. The company has a market capitalization of C$1.29 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.18 and a beta of 1.49. The company has a current ratio of 1.19, a quick ratio of 1.75 and a debt-to-equity ratio of 11.27.

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. AGF Management had a net margin of 16.58% and a return on equity of 7.64%. The firm had revenue of C$120.30 million for the quarter. As a group, sell-side analysts predict that AGF Management Limited 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.