CI Financial (TSE:CIX) Sets New 1-Year High – Time to Buy?

Shares of CI Financial Corp. (TSE:CIX) reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$31.43 and last traded at C$31.38, with a volume of 17533 shares. The stock had previously closed at C$31.31.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Raymond James lowered CI Financial from a “moderate buy” rating to a “strong sell” rating in a research report on Thursday, January 23rd. TD Securities cut CI Financial from a “buy” rating to a “sell” rating and raised their price objective for the company from C$28.00 to C$32.00 in a report on Tuesday, November 26th. Scotiabank upped their target price on CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. BMO Capital Markets raised their price target on CI Financial from C$22.00 to C$25.00 in a research note on Friday, November 15th. Finally, CIBC upped their price objective on CI Financial from C$23.00 to C$32.00 in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$27.94.

CI Financial Stock Performance

The company has a debt-to-equity ratio of 506.88, a current ratio of 0.32 and a quick ratio of 0.17. The stock has a 50-day moving average price of C$31.07 and a 200-day moving average price of C$24.05. The company has a market capitalization of C$4.52 billion, a price-to-earnings ratio of -65.42, 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.