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

CI Financial Corp. (TSE:CIX)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$20.22 and traded as high as C$31.00. CI Financial shares last traded at C$30.94, with a volume of 1,028,144 shares changing hands.

Wall Street Analysts Forecast Growth

CIX has been the subject of several research analyst reports. Keefe, Bruyette & Woods cut 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. Raymond James increased their price objective on shares of CI Financial from C$27.00 to C$32.00 in a report on Tuesday, November 26th. BMO Capital Markets boosted their target price on shares of CI Financial from C$22.00 to C$25.00 in a report on Friday, November 15th. Jefferies Financial Group upped their target price on shares of 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. Finally, TD Securities cut shares of CI Financial from a “buy” rating to a “sell” rating and boosted their price target for the stock from C$28.00 to C$32.00 in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$27.94.

CI Financial Price Performance

The company has a debt-to-equity ratio of 577.47, a current ratio of 0.34 and a quick ratio of 0.17. The firm’s 50-day moving average is C$27.06 and its two-hundred day moving average is C$20.22. The company has a market cap of C$4.37 billion, a P/E ratio of -114.59, a PEG 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.