CI Financial (TSE:CIX) Share Price Crosses Above 200 Day Moving Average – Here’s Why

CI Financial Corp. (TSE:CIX)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$23.09 and traded as high as C$31.30. CI Financial shares last traded at C$31.30, with a volume of 267,809 shares traded.

Analysts Set New Price Targets

CIX has been the subject of several recent research reports. CIBC boosted their target price on shares of CI Financial from C$23.00 to C$32.00 in a research report on Tuesday, November 26th. TD Securities downgraded 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 research report on Tuesday, November 26th. Keefe, Bruyette & Woods lowered 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 note on Tuesday, November 26th. BMO Capital Markets increased their price objective on shares of CI Financial from C$22.00 to C$25.00 in a research note on Friday, November 15th. Finally, Scotiabank increased their price objective on shares of CI Financial from C$25.00 to C$26.00 in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$27.94.

CI Financial Stock Performance

The company’s 50 day moving average price is C$31.04 and its 200-day moving average price is C$23.09. 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$4.42 billion, a PE ratio of -115.93, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67.

About CI Financial

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.