AGF Management (TSE:AGF.B) Hits New 12-Month High – Here’s Why

AGF Management Limited (TSE:AGF.B)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$21.30 and last traded at C$20.50, with a volume of 144960 shares changing hands. The stock had previously closed at C$19.57.

Analyst Upgrades and Downgrades

AGF.B has been the topic of a number of recent analyst reports. TD increased their price target on shares of AGF Management from C$19.00 to C$24.00 and gave the stock a “buy” rating in a research note on Friday, June 19th. Royal Bank Of Canada lifted their target price on AGF Management from C$21.00 to C$23.00 and gave the company an “outperform” rating in a report on Thursday. BMO Capital Markets boosted their price target on AGF Management from C$19.00 to C$20.00 and gave the company a “market perform” rating in a research report on Wednesday, April 8th. Desjardins upped their price target on AGF Management from C$22.00 to C$23.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Scotia cut their price objective on AGF Management from C$20.00 to C$18.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 15th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, AGF Management currently has a consensus rating of “Moderate Buy” and an average target price of C$20.28.

AGF Management Stock Performance

The stock’s 50 day moving average price is C$17.29 and its 200 day moving average price is C$17.87. 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 firm has a market cap of C$1.24 billion, a PE ratio of 11.33, a P/E/G ratio of 1.18 and a beta of 1.31.

AGF Management (TSE:AGF.B) last announced its quarterly earnings results on Wednesday, June 24th. The company reported C$0.72 earnings per share 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$126.70 million during the quarter. As a group, equities analysts forecast that AGF Management Limited will post 1.5610119 earnings per share for the current fiscal year.

About AGF Management

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth. AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.