AGF Management (TSE:AGF.B) Hits New 1-Year High on Analyst Upgrade

AGF Management Limited (TSE:AGF.B)’s stock price hit a new 52-week high during mid-day trading on Thursday after TD Securities raised their price target on the stock from C$12.00 to C$13.00. TD Securities currently has a buy rating on the stock. AGF Management traded as high as C$11.50 and last traded at C$11.44, with a volume of 37947 shares trading hands. The stock had previously closed at C$11.23.

AGF.B has been the topic of several other reports. CIBC raised their target price on AGF Management from C$14.00 to C$17.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Desjardins raised their target price on AGF Management from C$12.50 to C$13.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Jefferies Financial Group raised their target price on AGF Management from C$11.00 to C$12.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, BMO Capital Markets raised their target price on AGF Management from C$10.00 to C$11.00 in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$12.46.

Insider Activity at AGF Management

In other AGF Management news, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 442,751 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of C$11.17, for a total transaction of C$4,945,528.67. Also, Senior Officer Kevin Andrew Mccreadie sold 25,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of C$11.06, for a total value of C$276,500.00. Over the last 90 days, insiders sold 545,085 shares of company stock valued at $6,071,247. 18.70% of the stock is currently owned by insiders.

AGF Management Stock Performance

The company has a quick ratio of 1.75, a current ratio of 1.19 and a debt-to-equity ratio of 11.27. The stock has a market capitalization of C$726.73 million, a PE ratio of 8.89, a price-to-earnings-growth ratio of 1.18 and a beta of 1.73. The stock has a fifty day moving average of C$10.83 and a 200-day moving average of C$9.72.

AGF Management Company Profile

AGF Management Limited is one of Canada's premier investment management companies with offices across Canada and subsidiaries around the world. 2007 marks AGF's 50th anniversary ofproviding Canadians with innovative investment solutions across the wealth continuum. AGF's products and services include a diversified family of more than 50 mutual funds, the evolutionary AGF Elements portfolios, the Harmony asset management program, AGF Private Investment Management, Institutional Account Services and AGF Trust GICs, loans and mortgages.