CI Financial (TSE:CIX) Hits New 52-Week High After Analyst Upgrade

CI Financial Corp. (TSE:CIX)’s share price hit a new 52-week high during mid-day trading on Tuesday after CIBC raised their price target on the stock from C$23.00 to C$32.00. The company traded as high as C$31.41 and last traded at C$31.22, with a volume of 5734430 shares changing hands. The stock had previously closed at C$24.01.

CIX has been the topic of a number of other reports. Keefe, Bruyette & Woods lowered CI Financial from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from C$28.00 to C$31.50 in a research report on Tuesday. 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. TD Securities lowered shares of CI Financial from a “buy” rating to a “sell” rating and raised their price objective for the stock from C$28.00 to C$32.00 in a report on Tuesday. Raymond James raised their target price on CI Financial from C$27.00 to C$32.00 in a research note on Tuesday. Finally, Scotiabank upped their price target on CI Financial from C$25.00 to C$26.00 in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$27.94.

CI Financial Price Performance

The stock has a market capitalization of C$4.39 billion, a P/E ratio of -115.19, a P/E/G ratio of 0.04 and a beta of 1.67. The firm has a fifty day moving average price of C$21.63 and a two-hundred day moving average price of C$17.70. The company has a quick ratio of 0.17, a current ratio of 0.34 and a debt-to-equity ratio of 577.47.

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.