CIBC Increases AGF Management (TSE:AGF.B) Price Target to C$17.00

AGF Management (TSE:AGF.B) had its target price boosted by stock analysts at CIBC from C$14.00 to C$17.00 in a report released on Thursday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price objective indicates a potential upside of 66.67% from the stock’s previous close.

AGF.B has been the subject of several other reports. Scotiabank boosted their target price on shares of AGF Management from C$10.75 to C$11.25 in a research report on Wednesday, September 18th. Desjardins raised their price target on shares of AGF Management from C$12.00 to C$12.50 and gave the company a “buy” rating in a research note on Thursday, September 26th. TD Securities upped their price objective on shares of AGF Management from C$10.00 to C$11.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, BMO Capital Markets increased their target price on 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AGF Management presently has an average rating of “Moderate Buy” and an average price target of C$11.82.

AGF Management Stock Performance

TSE AGF.B traded up C$0.70 during trading on Thursday, reaching C$10.20. The company’s stock had a trading volume of 235,394 shares, compared to its average volume of 66,490. The firm has a 50 day moving average price of C$8.12 and a 200 day moving average price of C$8.23. AGF Management has a 12 month low of C$6.30 and a 12 month high of C$10.29. 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$655.76 million, a price-to-earnings ratio of 7.73, a price-to-earnings-growth ratio of 1.18 and a beta of 1.71.

Insider Buying and Selling

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

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.