AGF Management (TSE:AGF.B) Hits New 52-Week High – Here’s Why

Shares of AGF Management Limited (TSE:AGF.B) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$20.88 and last traded at C$20.87, with a volume of 146030 shares changing hands. The stock had previously closed at C$20.21.

Analyst Ratings Changes

A number of research firms recently commented on AGF.B. Royal Bank Of Canada lifted their price target on AGF Management from C$21.00 to C$23.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. BMO Capital Markets raised their price objective 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. TD boosted their target price on AGF Management from C$19.00 to C$24.00 and gave the stock a “buy” rating in a report on Friday, June 19th. Scotia dropped their price target on AGF Management from C$20.00 to C$18.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 15th. Finally, Desjardins lifted their price objective on shares of AGF Management from C$22.00 to C$23.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$20.28.

AGF Management Stock Performance

The company has a fifty day moving average of C$17.82 and a two-hundred day moving average of C$18.06. The firm has a market capitalization of C$1.33 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 1.18 and a beta of 1.23. The company has a debt-to-equity ratio of 11.27, a quick ratio of 1.75 and a current ratio of 1.19.

AGF Management (TSE:AGF.B) last posted its quarterly earnings data on Wednesday, June 24th. The company reported C$0.72 earnings per share 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$126.70 million for the quarter. As a group, equities research analysts predict 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.