AGF Management (TSE:AGF.B) Reaches New 12-Month High - Should You Buy?

Key Points

• AGF Management hit a new 52-week high, trading as high as C$22.50 on Monday before ending near C$22.01. The move came on volume of 54,700 shares, above its prior close of C$21.85.
• Analyst sentiment has improved, with RBC, TD, and Desjardins recently raising price targets and maintaining bullish ratings. Overall, the stock carries a Moderate Buy consensus with an average target price of C$20.28.
• The company reported C$0.72 EPS in its latest quarter on revenue of C$126.7 million, and analysts expect about 1.56 EPS for the current fiscal year. AGF also trades at a relatively modest P/E of 10.65 with a market cap of about C$1.40 billion.

AGF Management Limited (TSE:AGF.B - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$22.50 and last traded at C$22.01, with a volume of 54700 shares trading hands. The stock had previously closed at C$21.85.

Analyst Ratings Changes

A number of research analysts have commented on AGF.B shares. Royal Bank Of Canada increased their target price 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. TD upped their price target on AGF Management from C$19.00 to C$24.00 and gave the company a "buy" rating in a research report on Friday, June 19th. Desjardins raised their price objective on AGF Management from C$22.00 to C$23.00 and gave the stock a "buy" rating in a research note on Thursday, June 25th. Scotia reduced 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 research note on Wednesday, April 15th. Finally, BMO Capital Markets lifted their price objective on shares of AGF Management from C$19.00 to C$20.00 and gave the stock a "market perform" rating in a report on Wednesday, April 8th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of C$20.28.

AGF Management Stock Performance

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 company's 50-day moving average is C$18.39 and its two-hundred day moving average is C$18.24. The stock has a market capitalization of C$1.40 billion, a P/E ratio of 10.65, a P/E/G ratio of 1.18 and a beta of 1.23.

AGF Management (TSE:AGF.B - Get Free Report) last posted its earnings results on Wednesday, June 24th. The company reported C$0.72 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$126.70 million during the quarter. As a group, sell-side analysts anticipate that AGF Management Limited will post 1.5610119 EPS for the current fiscal year.

AGF Management Company Profile

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.

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