AGF Management (TSE:AGF.B) Hits New 12-Month High – Time to Buy?

Shares of AGF Management Limited (TSE:AGF.B) reached a new 52-week high on Monday . The company traded as high as C$16.59 and last traded at C$16.55, with a volume of 36443 shares trading hands. The stock had previously closed at C$16.22.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AGF.B shares. Jefferies Financial Group upped their price objective on AGF Management from C$14.50 to C$16.00 and gave the company a “buy” rating in a report on Friday, September 19th. Desjardins upped their price target on AGF Management from C$16.50 to C$17.75 and gave the company a “buy” rating in a research note on Thursday, September 25th. BMO Capital Markets lifted their price objective on shares of AGF Management from C$12.00 to C$15.00 in a research note on Tuesday, September 16th. TD Securities boosted their price objective 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 shares of AGF Management and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$16.79.

AGF Management Stock Up 1.0%

The company has a debt-to-equity ratio of 11.27, a current ratio of 1.19 and a quick ratio of 1.75. The company has a market capitalization of C$1.04 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 1.18 and a beta of 1.62. The firm has a 50-day moving average price of C$14.83 and a two-hundred day moving average price of C$13.65.

AGF Management (TSE:AGF.B) last released its 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 for the quarter. As a group, sell-side analysts anticipate 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.