CI Financial (TSE:CIX) Sets New 12-Month High – Should You Buy?

CI Financial Corp. (TSE:CIX)’s share price reached a new 52-week high on Thursday . The company traded as high as C$24.25 and last traded at C$24.23, with a volume of 204958 shares traded. The stock had previously closed at C$23.63.

Analyst Ratings Changes

A number of research firms have recently weighed in on CIX. TD Securities lowered their price objective on CI Financial from C$21.00 to C$20.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Jefferies Financial Group lifted 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. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CI Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of C$20.25.

CI Financial Trading Up 3.8 %

The company has a 50 day simple moving average of C$20.14 and a 200 day simple moving average of C$17.13. 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 capitalization of C$3.46 billion, a PE ratio of -87.52, 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.