CI Financial (TSE:CIX) Sets New 12-Month High – Here’s Why

CI Financial Corp. (TSE:CIX)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$31.48 and last traded at C$31.36, with a volume of 717866 shares changing hands. The stock had previously closed at C$31.35.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CIX. CIBC upped their target price on CI Financial from C$23.00 to C$32.00 in a research report on Tuesday, November 26th. Jefferies Financial Group raised their price target on shares of CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Securities cut shares of CI Financial from a “buy” rating to a “sell” rating and upped their price objective for the company from C$28.00 to C$32.00 in a research report on Tuesday, November 26th. Raymond James cut CI Financial from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, January 23rd. Finally, BMO Capital Markets increased their target price on CI Financial from C$22.00 to C$25.00 in a research note on Friday, November 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$27.94.

CI Financial Stock Performance

The firm has a market capitalization of C$4.52 billion, a PE ratio of -65.37, a PEG ratio of 0.04 and a beta of 1.67. The company has a current ratio of 0.32, a quick ratio of 0.17 and a debt-to-equity ratio of 506.88. The firm’s fifty day moving average price is C$31.12 and its 200 day moving average price is C$24.71.

About CI Financial

CI Financial Corp. is a publicly owned asset management holding company. Through its subsidiaries, the firm manages separate client focused equity, fixed income, and alternative investments portfolios. It also manages mutual funds, hedge funds, and fund of funds for its clients through its subsidiaries.