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

Shares of AGF Management Limited (TSE:AGF.B) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$8.78 and traded as high as C$11.24. AGF Management shares last traded at C$10.90, with a volume of 73,020 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Desjardins lifted 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. 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 note on Thursday, October 3rd. BMO Capital Markets lifted their price objective on AGF Management from C$9.00 to C$10.00 and gave the stock a “market perform” rating in a report on Monday, September 23rd. Scotiabank increased their target price on AGF Management from C$10.75 to C$11.25 in a report on Wednesday, September 18th. Finally, TD Securities lifted their price target on AGF Management from C$10.00 to C$11.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$11.82.

AGF Management Price Performance

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’s 50 day simple moving average is C$9.87 and its two-hundred day simple moving average is C$8.79. The firm has a market capitalization of C$696.07 million, a PE ratio of 8.52, a price-to-earnings-growth ratio of 1.18 and a beta of 1.73.

Insider Buying and Selling

In other news, Director Cybele Negris purchased 5,064 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average price of C$7.90 per share, with a total value of C$40,005.60. Also, Senior Officer Kevin Andrew Mccreadie sold 31,600 shares of AGF Management stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of C$10.65, for a total transaction of C$336,540.00. Over the last 90 days, insiders have purchased 29,985 shares of company stock worth $238,003. 18.70% of the stock is owned by corporate insiders.

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.