CI Financial (TSE:CIX) Hits New 52-Week High – Still a Buy?

Shares of CI Financial Corp. (TSE:CIX) reached a new 52-week high during trading on Thursday . The company 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.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods cut shares of CI Financial from an “outperform” rating to a “market perform” rating and raised their price objective for the company from C$28.00 to C$31.50 in a research report on Tuesday, November 26th. Scotiabank lifted their price target on CI Financial from C$25.00 to C$26.00 in a research note on Friday, November 15th. BMO Capital Markets upped their price objective on CI Financial from C$22.00 to C$25.00 in a report on Friday, November 15th. TD Securities cut CI Financial from a “buy” rating to a “sell” rating and raised their price objective for the company from C$28.00 to C$32.00 in a report on Tuesday, November 26th. Finally, CIBC upped their target price on CI Financial from C$23.00 to C$32.00 in a research note on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$27.94.

CI Financial Stock Up 0.1 %

The stock has a 50 day simple moving average of C$31.10 and a 200 day simple moving average of C$24.52. 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 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.

CI Financial Company Profile

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.