AGF Management (TSE:AGF.B) Price Target Cut to C$23.00 by Analysts at TD

Key Points

• TD cut AGF Management’s price target to C$23.00 from C$24.00 but maintained a “buy” rating, implying 22.47% upside from the stock’s current price.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of C$20.16; ratings include four Buys and four Holds.
• AGF.B shares fell 3.7% to C$18.78 during Tuesday trading. The company recently reported quarterly earnings of C$0.72 per share on revenue of C$126.70 million.

AGF Management (TSE:AGF.B - Get Free Report) had its price target cut by stock analysts at TD from C$24.00 to C$23.00 in a research note issued on Tuesday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. TD's price objective would indicate a potential upside of 22.47% from the stock's current price.

Other analysts have also issued reports about the stock. Desjardins increased 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 research report on Thursday, June 25th. Royal Bank Of Canada downgraded AGF Management from an "outperform" rating to a "sector perform" rating and set a C$23.00 price target on the stock. in a research note on Tuesday, September 8th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$20.16.

AGF Management Trading Down 3.7%

Shares of AGF.B stock traded down C$0.72 during trading hours on Tuesday, reaching C$18.78. 162,939 shares of the stock were exchanged, compared to its average volume of 256,007. The company's 50-day moving average price is C$22.24 and its 200-day moving average price is C$19.77. AGF Management has a 12-month low of C$13.33 and a 12-month high of C$24.20. 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 firm has a market capitalization of C$1.19 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18.

AGF Management (TSE:AGF.B - Get Free Report) last released its earnings results on Wednesday, June 24th. The company reported C$0.72 earnings per share for the quarter. The business had revenue of C$126.70 million during the quarter. AGF Management had a return on equity of 7.64% and a net margin of 16.58%. As a group, equities analysts anticipate that AGF Management will post 1.5610119 earnings per share for the current 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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