CI Financial (TSE:CIX) Trading Up 30.1% – Should You Buy?

CI Financial Corp. (TSE:CIX) shot up 30.1% on Monday . The stock traded as high as C$31.36 and last traded at C$31.23. 28,110 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 416,334 shares. The stock had previously closed at C$24.01.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. TD Securities raised their price target on CI Financial from C$26.00 to C$28.00 and gave the company a “buy” rating in a report on Friday, November 15th. BMO Capital Markets raised their price target on CI Financial from C$22.00 to C$25.00 in a report on Friday, November 15th. Keefe, Bruyette & Woods raised their price target on CI Financial from C$21.00 to C$28.00 in a report on Monday, November 18th. Scotiabank raised their price target on CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. Finally, Raymond James raised their price target on CI Financial from C$22.00 to C$27.00 in a report on Friday, November 15th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$24.50.

CI Financial Price Performance

The company has a 50 day moving average of C$21.08 and a two-hundred day moving average of C$17.51. The firm has a market cap of C$4.42 billion, a P/E ratio of -115.67, a PEG ratio of 0.04 and a beta of 1.67. The company has a quick ratio of 0.17, a current ratio of 0.34 and a debt-to-equity ratio of 577.47.

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.