IGM Financial (TSE:IGM) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

IGM Financial Inc. (TSE:IGM) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$43.01 and traded as high as C$45.66. IGM Financial shares last traded at C$45.61, with a volume of 199,372 shares.

Analyst Ratings Changes

A number of analysts have recently commented on IGM shares. BMO Capital Markets lifted their target price on IGM Financial from C$47.00 to C$48.00 in a research report on Monday, February 10th. National Bankshares lifted their price objective on IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a report on Friday, November 1st. TD Securities lifted their price objective on IGM Financial from C$51.00 to C$56.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, Scotiabank boosted their price target on IGM Financial from C$53.00 to C$56.00 in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$50.29.

IGM Financial Price Performance

The company has a debt-to-equity ratio of 97.24, a quick ratio of 0.31 and a current ratio of 3.61. The stock has a market capitalization of C$10.88 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 4.09 and a beta of 1.53. The company has a 50-day moving average of C$45.53 and a 200-day moving average of C$43.01.

About IGM Financial

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.