CI Financial (TSE:CIX) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

CI Financial Corp. (TSE:CIX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$21.54 and traded as high as C$31.10. CI Financial shares last traded at C$31.02, with a volume of 991,531 shares trading hands.

Analysts Set New Price Targets

CIX has been the subject of a number of research reports. 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. Jefferies Financial Group upped their target price on CI Financial from C$20.00 to C$27.00 and gave the stock 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 lifted their price target for the stock from C$28.00 to C$32.00 in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods cut shares of CI Financial from an “outperform” rating to a “market perform” rating and upped their price objective for the company from C$28.00 to C$31.50 in a research note on Tuesday, November 26th. Finally, CIBC lifted their target price on shares of CI Financial from C$23.00 to C$32.00 in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$27.94.

CI Financial Stock Down 0.2 %

The company has a market capitalization of C$4.37 billion, a P/E ratio of -114.63, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The company has a current ratio of 0.34, a quick ratio of 0.17 and a debt-to-equity ratio of 577.47. The stock’s fifty day moving average is C$29.44 and its 200 day moving average is C$21.77.

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.