Scotiabank Issues Pessimistic Forecast for AGF Management (TSE:AGF.B) Stock Price

AGF Management (TSE:AGF.B) had its target price reduced by Scotiabank from C$12.00 to C$11.50 in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price suggests a potential upside of 22.34% from the stock’s previous close.

Several other analysts also recently commented on the stock. Jefferies Financial Group lifted their target price on shares of AGF Management from C$11.00 to C$12.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. BMO Capital Markets boosted their price target on AGF Management from C$10.00 to C$11.00 in a research note on Wednesday, January 8th. TD Securities decreased their price objective on AGF Management from C$13.00 to C$12.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Desjardins reduced their target price on shares of AGF Management from C$13.50 to C$12.25 and set a “buy” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$12.63.

AGF Management Stock Performance

Shares of TSE AGF.B traded up C$0.19 during midday trading on Wednesday, hitting C$9.40. 68,043 shares of the company’s stock were exchanged, compared to its average volume of 71,483. AGF Management has a 12 month low of C$7.37 and a 12 month high of C$11.95. The company’s 50 day moving average price is C$10.55 and its 200 day moving average price is C$10.59. The company has a quick ratio of 1.75, a current ratio of 1.19 and a debt-to-equity ratio of 11.27. The firm has a market capitalization of C$600.28 million, a PE ratio of 7.34, a price-to-earnings-growth ratio of 1.18 and a beta of 1.73.

Insiders Place Their Bets

In related news, insider AGF EMPLOYEE BENEFIT PLAN TRUST bought 22,500 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of C$11.89 per share, with a total value of C$267,525.00. Insiders acquired 89,700 shares of company stock worth $1,033,992 over the last three months. Insiders own 18.70% 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.