CI Financial (TSE:CIX) Hits New 1-Year High – Here’s What Happened

CI Financial Corp. (TSE:CIX) shares reached a new 52-week high on Friday . The stock traded as high as C$31.43 and last traded at C$31.38, with a volume of 17533 shares changing hands. The stock had previously closed at C$31.31.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CIX shares. Scotiabank increased their price target on shares of CI Financial from C$25.00 to C$26.00 in a research report on Friday, November 15th. Raymond James downgraded shares of CI Financial from a “moderate buy” rating to a “strong sell” rating in a report on Thursday, January 23rd. Jefferies Financial Group raised their target price on shares of CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Securities downgraded shares of CI Financial from a “buy” rating to a “sell” rating and raised their target price for the company from C$28.00 to C$32.00 in a research note on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods downgraded shares of CI Financial from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from C$28.00 to C$31.50 in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$27.94.

CI Financial Price Performance

The company has a quick ratio of 0.17, a current ratio of 0.32 and a debt-to-equity ratio of 506.88. The stock has a market cap of C$4.52 billion, a P/E ratio of -65.33, a PEG ratio of 0.04 and a beta of 1.67. The firm’s fifty day moving average price is C$31.06 and its 200-day moving average price is C$23.89.

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.