CI Financial (TSE:CIX) Stock Price Passes Above 200-Day Moving Average – Here’s Why

CI Financial Corp. (TSE:CIX)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$18.83 and traded as high as C$31.09. CI Financial shares last traded at C$31.02, with a volume of 294,749 shares trading hands.

Wall Street Analyst Weigh In

CIX has been the topic of several recent research reports. Raymond James lifted their target price on shares of CI Financial from C$27.00 to C$32.00 in a report on Tuesday, November 26th. Scotiabank boosted their target price on shares of CI Financial from C$25.00 to C$26.00 in a research report on Friday, November 15th. BMO Capital Markets boosted their target price on shares of CI Financial from C$22.00 to C$25.00 in a research report on Friday, November 15th. Keefe, Bruyette & Woods downgraded shares of CI Financial from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from C$28.00 to C$31.50 in a research report on Tuesday, November 26th. Finally, CIBC boosted their price objective on shares of CI Financial from C$23.00 to C$32.00 in a research report on Tuesday, November 26th. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$27.94.

CI Financial Price Performance

The stock’s fifty day moving average price is C$24.49 and its 200-day moving average price is C$18.83. The company has a debt-to-equity ratio of 577.47, a current ratio of 0.34 and a quick ratio of 0.17. The firm has a market cap of C$4.38 billion, a price-to-earnings ratio of -114.89, a price-to-earnings-growth 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.