AGF Management (TSE:AGF.B) Hits New 1-Year High – Should You Buy?

Shares of AGF Management Limited (TSE:AGF.B) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$11.95 and last traded at C$11.18, with a volume of 152062 shares traded. The stock had previously closed at C$11.91.

Analyst Upgrades and Downgrades

AGF.B has been the subject of several research reports. Jefferies Financial Group increased their price objective on shares of AGF Management from C$11.00 to C$12.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. BMO Capital Markets increased their price target on AGF Management from C$10.00 to C$11.00 in a research note on Wednesday, January 8th. Desjardins boosted their price objective on AGF Management from C$12.50 to C$13.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, TD Securities increased their target price on AGF Management from C$12.00 to C$13.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$12.46.

AGF Management Stock Performance

The firm has a market capitalization of C$713.95 million, a P/E ratio of 8.73, 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$10.92 and a 200-day moving average of C$10.19. The company has a current ratio of 1.19, a quick ratio of 1.75 and a debt-to-equity ratio of 11.27.

Insider Transactions at AGF Management

In other news, insider AGF EMPLOYEE BENEFIT PLAN TRUST bought 21,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of C$11.06 per share, for a total transaction of C$232,260.00. Insiders purchased 89,700 shares of company stock worth $1,033,992 over the last ninety days. 18.70% of the stock is owned by 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.