AGF Management (TSE:AGF.B) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• AGF Management’s shares crossed above their 200-day moving average, reaching C$22.59 before closing at C$22.42, compared with the 200-day average of C$19.60.
• Analysts raised their price targets to between C$23 and C$24, with five Buy ratings and three Holds. Despite the positive analyst sentiment, the consensus target remains C$20.28, below the recent share price.
• The company reported quarterly earnings of C$0.72 per share on C$126.70 million in revenue, with a 16.58% net margin and 7.64% return on equity; analysts expect full-year EPS of about C$1.56.

AGF Management Limited (TSE:AGF.B - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$19.60 and traded as high as C$22.59. AGF Management shares last traded at C$22.42, with a volume of 146,081 shares traded.

Analysts Set New Price Targets

A number of analysts recently issued reports on AGF.B shares. Royal Bank Of Canada boosted their price target on AGF Management from C$21.00 to C$23.00 and gave the company an "outperform" rating in a report on Thursday, June 25th. Desjardins lifted their target price on 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. Finally, TD upped their target price on AGF Management from C$19.00 to C$24.00 and gave the stock a "buy" rating in a report on Friday, June 19th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, AGF Management presently has a consensus rating of "Moderate Buy" and a consensus target price of C$20.28.

AGF Management Stock Performance

The company has a debt-to-equity ratio of 11.27, a quick ratio of 1.75 and a current ratio of 1.19. The firm has a market cap of C$1.43 billion, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25. The firm's fifty day moving average price is C$21.97 and its 200 day moving average price is C$19.60.

AGF Management (TSE:AGF.B - Get Free Report) last announced its quarterly 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. Sell-side analysts expect that AGF Management Limited will post 1.5610119 EPS 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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