CI Financial (TSE:CIX) Rating Lowered to Market Perform at Keefe, Bruyette & Woods

CI Financial (TSE:CIX) was downgraded by Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday,BayStreet.CA reports. They presently have a C$31.50 target price on the stock, up from their previous target price of C$28.00. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 1.38% from the company’s previous close.

CIX has been the topic of a number of other research reports. Raymond James increased their price objective on CI Financial from C$27.00 to C$32.00 in a report on Tuesday. BMO Capital Markets increased their price target on shares of CI Financial from C$22.00 to C$25.00 in a research note on Friday, November 15th. TD Securities cut shares of CI Financial from a “buy” rating to a “sell” rating and upped their price objective for the stock from C$28.00 to C$32.00 in a report on Tuesday. Scotiabank raised their target price on CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. Finally, Jefferies Financial Group boosted their price target on CI Financial from C$20.00 to C$27.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat, CI Financial has an average rating of “Hold” and a consensus price target of C$27.94.

CI Financial Stock Performance

Shares of TSE CIX opened at C$31.07 on Tuesday. The company has a debt-to-equity ratio of 577.47, a current ratio of 0.34 and a quick ratio of 0.17. CI Financial has a one year low of C$13.59 and a one year high of C$31.41. The business’s 50-day moving average price is C$21.63 and its two-hundred day moving average price is C$17.70. The company has a market capitalization of C$4.39 billion, a P/E ratio of -115.19, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67.

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.