AGF Management (TSE:AGF.B) Hits New 52-Week High – Here’s Why

Shares of AGF Management Limited (TSE:AGF.B) reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$20.88 and last traded at C$20.87, with a volume of 146030 shares. The stock had previously closed at C$20.21.

Analyst Ratings Changes

Several analysts have issued reports on the company. Desjardins lifted their price target on AGF Management from C$22.00 to C$23.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. BMO Capital Markets upped their price objective on AGF Management from C$19.00 to C$20.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 8th. TD increased their price objective 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. Royal Bank Of Canada lifted their target price on AGF Management from C$21.00 to C$23.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. Finally, Scotia cut their target price on AGF Management from C$20.00 to C$18.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 15th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, AGF Management currently has an average rating of “Moderate Buy” and an average target price of C$20.28.

AGF Management Stock Up 3.3%

The company has a debt-to-equity ratio of 11.27, a current ratio of 1.19 and a quick ratio of 1.75. The firm has a 50-day moving average of C$17.82 and a 200 day moving average of C$18.06. The stock has a market capitalization of C$1.33 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 1.18 and a beta of 1.23.

AGF Management (TSE:AGF.B) last announced its quarterly earnings data on Wednesday, June 24th. The company reported C$0.72 earnings per share (EPS) for the quarter. The company had revenue of C$126.70 million for the quarter. AGF Management had a return on equity of 7.64% and a net margin of 16.58%. As a group, sell-side analysts forecast that AGF Management Limited 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.