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

AGF Management Limited (TSE:AGF.B)’s share price 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 trading hands. The stock had previously closed at C$19.09.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AGF.B. Desjardins upped their price objective on AGF Management from C$18.50 to C$20.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Scotiabank upped 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 note on Wednesday, January 28th. Royal Bank Of Canada lifted their price objective on shares of AGF Management from C$18.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Finally, TD Securities boosted 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 report on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, AGF Management currently has an average rating of “Moderate Buy” and an average target price of C$18.54.

AGF Management Price Performance

The company has a quick ratio of 1.75, a current ratio of 1.19 and a debt-to-equity ratio of 11.27. The company has a market capitalization of C$1.25 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 1.18 and a beta of 1.49. The firm’s 50 day simple moving average is C$17.07 and its 200 day simple moving average is C$14.75.

AGF Management (TSE:AGF.B) last announced its earnings results on Tuesday, January 27th. The company reported C$0.62 earnings per share for the quarter. AGF Management had a net margin of 16.58% and a return on equity of 7.64%. The business had revenue of C$120.30 million for the quarter. As a group, research analysts anticipate that AGF Management Limited will post 1.5610119 EPS 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.