Desjardins Forecasts Strong Price Appreciation for AGF Management (TSE:AGF.B) Stock

AGF Management (TSE:AGF.B) had its price objective boosted by investment analysts at Desjardins from C$18.50 to C$20.00 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price target would suggest a potential upside of 9.35% from the company’s previous close.

Several other research analysts have also weighed in on the stock. Scotiabank increased 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 note on Wednesday. TD Securities lifted their target price on shares of 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 AGF Management and gave the company an “outperform” rating in a research report on Wednesday, December 10th. 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.com, AGF Management presently has an average rating of “Moderate Buy” and an average price target of C$18.54.

AGF Management Price Performance

AGF.B stock traded up C$0.05 during midday trading on Wednesday, reaching C$18.29. The stock had a trading volume of 218,720 shares, compared to its average volume of 157,702. AGF Management has a 52-week low of C$8.65 and a 52-week high of C$18.63. 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’s fifty day simple moving average is C$15.77 and its 200 day simple moving average is C$14.11. The company has a market cap of C$1.16 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 1.18 and a beta of 1.62.

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