Royal Bank Of Canada Boosts AGF Management (TSE:AGF.B) Price Target to C$22.00

AGF Management (TSE:AGF.B) had its target price lifted by equities researchers at Royal Bank Of Canada from C$18.00 to C$22.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 20.28% from the company’s previous close.

Several other equities analysts have also issued reports on AGF.B. Scotiabank lifted their price objective on shares of AGF Management from C$17.50 to C$18.25 and gave the company a “sector perform” rating in a report on Wednesday. TD Securities boosted their price target on AGF Management from C$17.00 to C$18.00 in a research report on Tuesday, November 4th. Finally, Desjardins boosted their target price on shares of AGF Management from C$18.50 to C$20.00 and gave the stock a “buy” rating in a report on Wednesday. Four 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, AGF Management has a consensus rating of “Moderate Buy” and an average price target of C$18.54.

AGF Management Stock Up 0.3%

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

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 net margin of 16.58% and a return on equity of 7.64%. The company had revenue of C$107.50 million for the quarter. On average, equities analysts predict that AGF Management 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.