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

CI Financial Corp. (TSE:CIX) shares crossed 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 traded.

Analyst Ratings Changes

Several brokerages recently issued reports on CIX. Jefferies Financial Group boosted their price target on CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a research note on Friday, November 1st. CIBC raised their target price on shares of CI Financial from C$23.00 to C$32.00 in a 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 target for the stock from C$28.00 to C$31.50 in a research report on Tuesday, November 26th. BMO Capital Markets lifted 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, TD Securities downgraded CI Financial from a “buy” rating to a “sell” rating and raised their target price for the company from C$28.00 to C$32.00 in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CI Financial has an average rating of “Hold” and a consensus price target of C$27.94.

CI Financial Stock Up 0.4 %

The firm has a market capitalization of C$4.39 billion, a price-to-earnings ratio of -115.04, a P/E/G ratio of 0.04 and a beta of 1.67. The stock has a fifty day moving average of C$27.44 and a two-hundred day moving average of C$20.40. The company has a debt-to-equity ratio of 577.47, a current ratio of 0.34 and a quick ratio of 0.17.

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.