CI Financial (TSE:CIX) Stock Price Passes Above 200 Day Moving Average – What’s Next?

CI Financial Corp. (TSE:CIX) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$18.83 and traded as high as C$31.09. CI Financial shares last traded at C$31.02, with a volume of 294,749 shares changing hands.

Wall Street Analyst Weigh In

CIX has been the subject of a number of research analyst reports. Jefferies Financial Group upped their price target on shares of 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 cut CI Financial from a “buy” rating to a “sell” rating and lifted their price target for the company from C$28.00 to C$32.00 in a research report on Tuesday, November 26th. CIBC upped their price objective on CI Financial from C$23.00 to C$32.00 in a report on Tuesday, November 26th. Scotiabank lifted their target price on CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. Finally, Raymond James upped their price target on shares of CI Financial from C$27.00 to C$32.00 in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to 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 Performance

The company has a market capitalization of C$4.38 billion, a price-to-earnings ratio of -114.96, a P/E/G ratio of 0.04 and a beta of 1.67. The firm’s 50 day simple moving average is C$24.74 and its 200-day simple moving average is C$18.94. The company has a debt-to-equity ratio of 577.47, a quick ratio of 0.17 and a current ratio of 0.34.

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.