CI Financial (TSE:CIX) Stock Crosses Above 200 Day Moving Average – Should You Sell?

CI Financial Corp. (TSE:CIX)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$19.57 and traded as high as C$30.94. CI Financial shares last traded at C$30.89, with a volume of 831,316 shares changing hands.

Analyst Ratings Changes

CIX has been the topic of several recent research reports. BMO Capital Markets lifted their price target on CI Financial from C$22.00 to C$25.00 in a research note on Friday, November 15th. Raymond James upped their price target on CI Financial from C$27.00 to C$32.00 in a research report on Tuesday, November 26th. Scotiabank lifted their price objective on shares of CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. CIBC boosted their price objective on shares of CI Financial from C$23.00 to C$32.00 in a research note on Tuesday, November 26th. Finally, Jefferies Financial Group raised their target price on shares of CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, CI Financial currently has an average rating of “Hold” and an average target price of C$27.94.

CI Financial Price Performance

The stock has a market capitalization of C$4.36 billion, a price-to-earnings ratio of -114.44, a P/E/G ratio of 0.04 and a beta of 1.67. The company’s 50-day simple moving average is C$26.30 and its 200-day simple moving average is C$19.72. The company has a debt-to-equity ratio of 577.47, a current ratio of 0.34 and a quick ratio of 0.17.

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.