Scotia Cuts AGF Management (TSE:AGF.B) Price Target to C$18.00

Key Points

• Scotia cut its price target on AGF Management to C$18.00 (from C$20.00) and maintained a sector perform rating, implying roughly a 13.5% upside from the prior close.
• AGF.B traded down 5.2% to C$15.86 on heavy volume (581,672 shares), trading below its 50‑day moving average (C$19.51) and near its 200‑day average (C$16.72); market cap is about C$1.02B with a PE of 8.3.
• Analysts are mixed but mildly positive: four Buy and three Hold ratings, an average rating of “Moderate Buy” and an average price target of C$19.18 (RBC the most bullish at C$22.00).

AGF Management (TSE:AGF.B - Get Free Report) had its price target decreased by equities research analysts at Scotia from C$20.00 to C$18.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Scotia's price objective would suggest a potential upside of 13.49% from the company's previous close.

A number of other equities research analysts have also commented on AGF.B. Scotiabank upped their price target on AGF Management from C$17.50 to C$18.25 and gave the company a "sector perform" rating in a research report on Wednesday, January 28th. TD Securities upped their price objective on shares of AGF Management from C$18.00 to C$20.00 and gave the company a "buy" rating in a research note on Wednesday, January 28th. Desjardins upped their price objective on shares of AGF Management from C$19.00 to C$20.00 and gave the company a "buy" rating in a research note on Friday, April 10th. BMO Capital Markets upped their price objective on shares of AGF Management from C$19.00 to C$20.00 and gave the company a "market perform" rating in a research note on Wednesday, April 8th. Finally, Royal Bank Of Canada upped their price objective on shares of AGF Management from C$18.00 to C$22.00 and gave the company an "outperform" rating in a research note on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$19.18.

AGF Management Trading Down 5.2%

AGF.B traded down C$0.87 during trading on Wednesday, reaching C$15.86. 581,672 shares of the company's stock were exchanged, compared to its average volume of 198,760. The firm has a fifty day moving average price of C$19.51 and a two-hundred day moving average price of C$16.72. AGF Management has a one year low of C$9.01 and a one year high of C$20.91. The stock has a market capitalization of C$1.02 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 1.18 and a beta of 1.35. 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 released its quarterly earnings results on Tuesday, April 14th. The company reported C$0.30 EPS for the quarter. AGF Management had a return on equity of 7.64% and a net margin of 16.58%.The firm had revenue of C$95.30 million for the quarter. As a group, equities research analysts forecast that AGF Management 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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