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

CI Financial Corp. (TSE:CIX) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$31.43 and last traded at C$31.33, with a volume of 497902 shares. The stock had previously closed at C$31.36.

Analysts Set New Price Targets

Several analysts recently issued reports on CIX shares. Scotiabank raised their price target on CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. CIBC raised their price target on CI Financial from C$23.00 to C$32.00 in a report on Tuesday, November 26th. Jefferies Financial Group raised their price target on CI Financial from C$20.00 to C$27.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Securities downgraded CI Financial from a “buy” rating to a “sell” rating and raised their price target for the stock from C$28.00 to C$32.00 in a report on Tuesday, November 26th. Finally, Raymond James downgraded CI Financial from a “moderate buy” rating to a “strong sell” rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, CI Financial presently has a consensus rating of “Hold” and an average target price of C$27.94.

CI Financial Stock Down 0.1 %

The stock has a market cap of C$4.52 billion, a P/E ratio of -65.31, a P/E/G ratio of 0.04 and a beta of 1.67. The firm has a 50 day simple moving average of C$31.09 and a two-hundred day simple moving average of C$24.31. The company has a debt-to-equity ratio of 506.88, a quick ratio of 0.17 and a current ratio of 0.32.

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.