AGF Management (TSE:AGF.B) Hits New 12-Month High – Here’s What Happened

AGF Management Limited (TSE:AGF.B) hit a new 52-week high on Wednesday . The company traded as high as C$18.84 and last traded at C$18.77, with a volume of 110924 shares. The stock had previously closed at C$18.41.

Analysts Set New Price Targets

A number of research analysts have commented on the company. 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 report on Wednesday, January 28th. Royal Bank Of Canada raised their price target on shares of AGF Management from C$18.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. TD Securities increased their target price on shares of AGF Management from C$18.00 to C$20.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Finally, Scotiabank lifted 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 research report 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$18.54.

AGF Management Trading Up 1.1%

The stock’s 50 day simple moving average is C$16.23 and its 200 day simple moving average is C$14.31. The firm has a market cap of C$1.19 billion, a PE ratio of 9.74, a PEG ratio of 1.18 and a beta of 1.49. 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 (TSE:AGF.B) last posted its quarterly earnings data on Wednesday, September 24th. The company reported C$0.46 earnings per share (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%. On average, sell-side analysts forecast that AGF Management Limited will post 1.5610119 earnings per share 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.