CI Financial (TSE:CIX) Downgraded to Market Perform Rating by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods cut shares of CI Financial (TSE:CIX) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday morning,BayStreet.CA reports. They currently have C$31.50 target price on the stock, up from their previous target price of C$28.00.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group raised their price objective on CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Raymond James lifted their price objective on CI Financial from C$27.00 to C$32.00 in a research note on Tuesday. Scotiabank upped their price objective on CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. TD Securities lowered 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 report on Tuesday. Finally, BMO Capital Markets boosted their price target on shares of CI Financial from C$22.00 to C$25.00 in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$27.94.

CI Financial Stock Performance

CIX opened at C$30.98 on Tuesday. The company has a debt-to-equity ratio of 577.47, a quick ratio of 0.17 and a current ratio of 0.34. The stock has a market capitalization of C$4.38 billion, a price-to-earnings ratio of -115.52, a PEG ratio of 0.04 and a beta of 1.67. The company has a fifty day moving average of C$21.36 and a 200 day moving average of C$17.60. CI Financial has a fifty-two week low of C$13.59 and a fifty-two week high of C$31.41.

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.