AGF Management (TSE:AGF.B) Reaches New 52-Week High – Should You Buy?

Shares of AGF Management Limited (TSE:AGF.B) hit a new 52-week high during trading on Wednesday . The company traded as high as C$19.21 and last traded at C$19.20, with a volume of 38077 shares traded. The stock had previously closed at C$19.09.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AGF.B. TD Securities lifted their price target on shares of AGF Management from C$18.00 to C$20.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Royal Bank Of Canada lifted their target price on AGF Management from C$18.00 to C$22.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Desjardins increased their price target on AGF Management from C$18.50 to C$20.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Finally, Scotiabank raised their price target on AGF Management from C$17.50 to C$18.25 and gave the company 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.54.

AGF Management Price Performance

The company has a current ratio of 1.19, a quick ratio of 1.75 and a debt-to-equity ratio of 11.27. The company has a market capitalization of C$1.29 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.18 and a beta of 1.49. The company has a 50 day moving average price of C$17.32 and a 200 day moving average price of C$14.87.

AGF Management (TSE:AGF.B) last announced its quarterly earnings results on Tuesday, January 27th. The company reported C$0.62 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 business had revenue of C$120.30 million during the quarter. On average, equities analysts predict that AGF Management Limited will post 1.5610119 EPS 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.