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

AGF Management Limited (TSE:AGF.B)’s share price hit a new 52-week high during mid-day trading on Thursday after CIBC raised their price target on the stock from C$14.00 to C$17.00. CIBC currently has an outperform rating on the stock. AGF Management traded as high as C$9.55 and last traded at C$9.50, with a volume of 114854 shares. The stock had previously closed at C$9.40.

Other analysts have also recently issued research reports about the stock. Scotiabank raised their price objective on shares of AGF Management from C$10.75 to C$11.25 in a report on Wednesday, September 18th. Desjardins lifted their price target on shares of AGF Management from C$12.00 to C$12.50 and gave the stock a “buy” rating in a research note on Thursday, September 26th. BMO Capital Markets boosted their price target on shares of AGF Management from C$9.00 to C$10.00 and gave the company a “market perform” rating in a research report on Monday, September 23rd. Finally, TD Securities raised their price objective on AGF Management from C$10.00 to C$11.00 and gave the stock a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$11.82.

Insider Transactions at AGF Management

In other AGF Management news, Director Cybele Negris acquired 5,121 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was purchased at an average price of C$7.86 per share, for a total transaction of C$40,246.45. In other news, Director Laura Lee Dottori-Attanasio purchased 12,500 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of C$7.99 per share, with a total value of C$99,833.75. Also, Director Cybele Negris purchased 5,121 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average price of C$7.86 per share, for a total transaction of C$40,246.45. In the last three months, insiders acquired 52,885 shares of company stock valued at $421,964. Corporate insiders own 18.74% of the company’s stock.

AGF Management Stock Performance

The company has a current ratio of 1.58, a quick ratio of 1.75 and a debt-to-equity ratio of 14.60. The firm has a market capitalization of C$674.40 million, a PE ratio of 7.70, a PEG ratio of 1.18 and a beta of 1.71. The stock’s 50 day moving average price is C$8.17 and its two-hundred day moving average price is C$8.25.

About AGF Management

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.