AGF Management (TSE:AGF.B) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of AGF Management Limited (TSE:AGF.B) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$8.46 and traded as high as C$10.47. AGF Management shares last traded at C$10.16, with a volume of 58,249 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Scotiabank raised their price target on shares of AGF Management from C$10.75 to C$11.25 in a report on Wednesday, September 18th. Desjardins boosted their target price on 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. CIBC boosted their target price on shares of AGF Management from C$14.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. BMO Capital Markets increased their price objective on AGF Management from C$9.00 to C$10.00 and gave the company a “market perform” rating in a report on Monday, September 23rd. Finally, TD Securities upped their price objective on shares of AGF Management from C$10.00 to C$11.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$11.82.

AGF Management Trading Down 2.8 %

The company has a debt-to-equity ratio of 11.27, a quick ratio of 1.75 and a current ratio of 1.19. The stock has a market cap of C$648.82 million, a PE ratio of 7.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.73. The company has a 50 day moving average of C$8.84 and a two-hundred day moving average of C$8.46.

Insider Activity at AGF Management

In other news, Senior Officer Kevin Andrew Mccreadie sold 32,840 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of C$10.45, for a total transaction of C$343,178.00. In other AGF Management news, Director Cybele Negris purchased 5,121 shares of the firm’s stock in a transaction dated 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. Also, Senior Officer Kevin Andrew Mccreadie sold 32,840 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of C$10.45, for a total transaction of C$343,178.00. In the last ninety days, insiders bought 51,585 shares of company stock valued at $411,226. 18.70% of the stock is owned by insiders.

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.