AGF Management (TSE:AGF.B) Shares Cross Above 200 Day Moving Average – What’s Next?

AGF Management Limited (TSE:AGF.B) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$15.86 and traded as high as C$19.49. AGF Management shares last traded at C$19.13, with a volume of 133,046 shares.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AGF.B. Desjardins lifted their price objective on AGF Management from C$18.50 to C$20.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Royal Bank Of Canada lifted their target price on AGF Management from C$18.00 to C$22.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Scotiabank raised their price objective on shares of AGF Management from C$17.50 to C$18.25 and gave the stock a “sector perform” rating in a research report on Wednesday, January 28th. Finally, TD Securities boosted their target price on shares of AGF Management from C$18.00 to C$20.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$18.54.

AGF Management Trading Down 0.9%

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 fifty day simple moving average of C$18.63 and a 200-day simple moving average of C$15.92. The firm has a market cap of C$1.19 billion, a P/E ratio of 9.74, a price-to-earnings-growth ratio of 1.18 and a beta of 1.59.

AGF Management (TSE:AGF.B) last issued its earnings results on Tuesday, January 27th. The company reported C$0.62 earnings per share for the quarter. AGF Management had a return on equity of 7.64% and a net margin of 16.58%.The company had revenue of C$120.30 million for the quarter. On average, equities research analysts expect that AGF Management Limited will post 1.5610119 earnings per share for the current year.

About AGF Management

AGF Management is a Canadian-based asset manager with operations and investments in Canada, the United States, the United Kingdom, Ireland, and Asia. At the end of May 2022, the firm had CAD 40.3 billion in total assets under management. AGF Management’s funds are weighted more heavily toward equities, with just over two thirds of retail AUM being equity related. That said, the company does use fundamental, quantitative and alternative strategies to manages its investment funds. AGF Management has a more meaningful portion of its business tied to institutional clients than its peers, with 26% of AUM derived from institutional and subadvised accounts.