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

CI Financial Corp. (TSE:CIX)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$20.96 and traded as high as C$31.10. CI Financial shares last traded at C$31.03, with a volume of 446,919 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CIX. BMO Capital Markets boosted their target price on CI Financial from C$22.00 to C$25.00 in a report on Friday, November 15th. CIBC boosted their price objective on shares of CI Financial from C$23.00 to C$32.00 in a research note on Tuesday, November 26th. Scotiabank raised their target price on shares of CI Financial from C$25.00 to C$26.00 in a research note on Friday, November 15th. 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. Finally, Keefe, Bruyette & Woods downgraded shares of CI Financial from an “outperform” rating to a “market perform” rating and increased their price objective for the company from C$28.00 to C$31.50 in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$27.94.

CI Financial Stock 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 company has a fifty day moving average of C$28.35 and a two-hundred day moving average of C$20.96. The stock has a market capitalization of C$4.38 billion, a P/E ratio of -114.93, 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.