AGF Management (TSE:AGF.B) Stock Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• AGF Management's stock price has crossed above its 200-day moving average of C$11.91, reaching a high of C$14.29 during trading, indicating potential positive momentum.
• Analysts have increased their price targets for AGF Management, with Jefferies raising it to C$16.00, and a consensus price target now averaging C$16.35, reflecting a generally favorable outlook.
• The company is a Canadian asset manager with a market cap of C$908.99 million and a total of CAD 40.3 billion in assets under management, primarily focused on equity investments.

AGF Management Limited (TSE:AGF.B - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$11.91 and traded as high as C$14.29. AGF Management shares last traded at C$14.28, with a volume of 105,983 shares.

Analysts Set New Price Targets

Several research firms have weighed in on AGF.B. Jefferies Financial Group upped their target price on AGF Management from C$14.50 to C$16.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. BMO Capital Markets increased their price objective on AGF Management from C$12.00 to C$15.00 in a report on Tuesday, September 16th. TD Securities increased their price objective on AGF Management from C$15.00 to C$17.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Desjardins upped their price target on shares of AGF Management from C$16.50 to C$17.75 and gave the company a "buy" rating in a research report on Thursday, September 25th. Finally, Scotiabank upped their price target on shares of AGF Management from C$15.00 to C$16.00 and gave the company a "sector perform" rating in a research report on Thursday, September 25th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$16.35.

AGF Management Stock Up 0.6%

The company has a market cap of C$908.99 million, a P/E ratio of 8.55, a PEG ratio of 1.18 and a beta of 1.39. The stock's 50-day moving average price is C$12.99 and its 200-day moving average price is C$11.91. 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 Company Profile

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.

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