CI Financial (TSE:CIX) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

CI Financial Corp. (TSE:CIX)’s share price 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 traded.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CIX. CIBC upped their target price on shares of CI Financial from C$23.00 to C$32.00 in a research note on Tuesday, November 26th. Raymond James increased their price target on CI Financial from C$27.00 to C$32.00 in a research note on Tuesday, November 26th. TD Securities cut CI Financial from a “buy” rating to a “sell” rating and boosted their price objective for the company from C$28.00 to C$32.00 in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods lowered shares of CI Financial from an “outperform” rating to a “market perform” rating and increased their target price for the stock from C$28.00 to C$31.50 in a research report on Tuesday, November 26th. Finally, BMO Capital Markets raised their price objective on shares of CI Financial from C$22.00 to C$25.00 in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, CI Financial has a consensus rating of “Hold” and an average price target of C$27.94.

CI Financial Price Performance

The stock has a market capitalization of C$4.37 billion, a PE ratio of -114.63, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The business’s 50-day moving average price is C$29.44 and its 200 day moving average price is C$21.77. 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.