CI Financial (TSE:CIX) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

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.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. CIBC raised their price target on CI Financial from C$23.00 to C$32.00 in a report on Tuesday, November 26th. Jefferies Financial Group raised their target price on 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. Raymond James upped their price target on shares of CI Financial from C$27.00 to C$32.00 in a research report on Tuesday, November 26th. Scotiabank raised their price objective on shares of CI Financial from C$25.00 to C$26.00 in a research report on Friday, November 15th. Finally, BMO Capital Markets upped their target price on shares of CI Financial from C$22.00 to C$25.00 in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, CI Financial currently has a consensus rating of “Hold” and an average price target of C$27.94.

CI Financial Stock Performance

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

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.