AGF Management (TSE:AGF.B) Price Target Raised to C$18.50

AGF Management (TSE:AGF.B) had its price objective upped by investment analysts at Desjardins from C$17.75 to C$18.50 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target points to a potential upside of 7.18% from the company’s previous close.

Several other brokerages have also issued reports on AGF.B. TD Securities increased their price objective on AGF Management from C$17.00 to C$18.00 in a report 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 report on Wednesday, December 10th. Finally, Scotiabank increased their price objective on AGF Management from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a report on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, AGF Management has an average rating of “Moderate Buy” and an average target price of C$16.92.

AGF Management Stock Up 2.3%

Shares of AGF.B traded up C$0.38 during trading hours on Thursday, reaching C$17.26. The company’s stock had a trading volume of 221,073 shares, compared to its average volume of 128,496. The company has a 50 day moving average of C$15.47 and a two-hundred day moving average of C$13.97. 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 firm has a market cap of C$1.10 billion, a price-to-earnings ratio of 10.34, a P/E/G ratio of 1.18 and a beta of 1.62. AGF Management has a 1-year low of C$8.65 and a 1-year high of C$17.43.

AGF Management (TSE:AGF.B) last announced its quarterly earnings data on Wednesday, September 24th. The company reported C$0.46 EPS for the quarter. AGF Management had a net margin of 16.58% and a return on equity of 7.64%. The firm had revenue of C$107.50 million for the quarter. As a group, research analysts predict that AGF Management will post 1.5610119 EPS 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.