AGF Management (TSE:AGF.B) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• AGF Management shares rose above their 200-day moving average of C$19.00, reaching C$23.26 before closing at C$23.04 on trading volume of 227,818 shares.
• Analyst sentiment is broadly positive, with five Buy ratings and three Holds producing a “Moderate Buy” consensus; the average target price is C$20.28, although several firms recently raised their targets to C$23–C$24.
• AGF Management reported quarterly earnings of C$0.72 per share on revenue of C$126.70 million, with a 16.58% net margin and 7.64% return on equity.

AGF Management Limited (TSE:AGF.B - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$19.00 and traded as high as C$23.26. AGF Management shares last traded at C$23.04, with a volume of 227,818 shares changing hands.

Analyst Ratings Changes

A number of research firms have issued reports on AGF.B. Royal Bank Of Canada raised their price target on shares of AGF Management from C$21.00 to C$23.00 and gave the stock an "outperform" rating in a research report on Thursday, June 25th. TD increased their price objective 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. BMO Capital Markets raised their target price 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. Scotia decreased their target price on shares of AGF Management from C$20.00 to C$18.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 15th. Finally, Desjardins upped their price target on shares of AGF Management from C$22.00 to C$23.00 and gave the company a "buy" rating in a report on Thursday, June 25th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, AGF Management presently has a consensus rating of "Moderate Buy" and a consensus target price of C$20.28.

AGF Management Trading Up 1.9%

The firm has a market cap of C$1.47 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.18 and a beta of 1.23. The company has a 50-day simple moving average of C$20.38 and a 200 day simple moving average of C$19.00. The company has a current ratio of 1.19, a quick ratio of 1.75 and a debt-to-equity ratio of 11.27.

AGF Management (TSE:AGF.B - Get Free Report) last posted its 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, sell-side 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.

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