AGF Management (TSE:AGF.B) Price Target Cut to C$19.00 by Analysts at BMO Capital Markets

Key Points

• BMO Capital Markets cut AGF Management’s price target from C$21.00 to C$19.00, implying 17.79% upside from the current share price, while maintaining broader analyst sentiment at “Hold.”
• AGF.B shares fell 3.6% to C$16.13 in Thursday trading, with volume exceeding twice the company’s average; the stock has traded between C$13.33 and C$24.20 over the past year.
• Recent analyst views were mixed: TD lowered its target to C$20.00 but retained a “Buy” rating, Desjardins raised its target to C$23.00 with a “Buy,” and RBC downgraded the stock to “Sector Perform.”

AGF Management (TSE:AGF.B - Get Free Report) had its price target cut by stock analysts at BMO Capital Markets from C$21.00 to C$19.00 in a research note issued to investors on Thursday, BayStreet reports. BMO Capital Markets' price target indicates a potential upside of 17.79% from the stock's current price.

A number of other research firms also recently commented on AGF.B. TD cut their price objective on AGF Management from C$23.00 to C$20.00 and set a "buy" rating on the stock in a report on Thursday. Desjardins boosted their target price on AGF Management from C$22.00 to C$23.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Finally, Royal Bank Of Canada lowered shares of AGF Management from an "outperform" rating to a "sector perform" rating and set a C$23.00 price target on the stock. in a report on Tuesday, September 8th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of C$19.46.

AGF Management Trading Down 3.6%

Shares of TSE AGF.B traded down C$0.60 during trading on Thursday, hitting C$16.13. 553,411 shares of the company traded hands, compared to its average volume of 258,560. The firm has a market capitalization of C$1.03 billion, a P/E ratio of 7.79, a P/E/G ratio of 1.18 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 1.19 and a debt-to-equity ratio of 11.27. The company has a 50-day moving average price of C$21.77 and a 200-day moving average price of C$19.68. AGF Management has a 1 year low of C$13.33 and a 1 year high of C$24.20.

AGF Management (TSE:AGF.B - Get Free Report) last issued its earnings results 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 business had revenue of C$126.70 million for the quarter. On average, equities analysts predict that AGF Management will post 1.5610119 EPS for the current 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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