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

AGF Management Limited (TSE:AGF.B) hit a new 52-week high during mid-day trading on Wednesday . The stock 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.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. TD Securities boosted their price objective on shares of AGF Management from C$17.00 to C$18.00 in a research note on Tuesday, November 4th. Royal Bank Of Canada set a C$18.00 price target on AGF Management and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Finally, Desjardins upped their target price on AGF Management from C$17.75 to C$18.50 and gave the company a “buy” rating in a report on Thursday, January 22nd. Four investment 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, the stock presently has an average rating of “Moderate Buy” and an average target price of C$16.92.

AGF Management Stock Up 6.4%

The stock has a market cap of C$1.16 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.18 and a beta of 1.62. The stock has a 50 day simple moving average of C$15.77 and a 200 day simple moving average of C$14.11. The company has a quick ratio of 1.75, a current ratio of 1.19 and a debt-to-equity ratio of 11.27.

AGF Management (TSE:AGF.B) last issued its earnings results on Wednesday, September 24th. The company reported C$0.46 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 company had revenue of C$107.50 million for the quarter. As a group, analysts expect 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.