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

CI Financial Corp. (TSE:CIX) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

Several research firms have commented on CIX. TD Securities lowered shares of CI Financial from a “buy” rating to a “sell” rating and increased their price objective for the company from C$28.00 to C$32.00 in a research note on Tuesday, November 26th. CIBC increased their price target on shares of CI Financial from C$23.00 to C$32.00 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 report on Friday, November 15th. Raymond James raised their price target on shares of CI Financial from C$27.00 to C$32.00 in a research note on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods downgraded CI Financial from an “outperform” rating to a “market perform” rating and upped their price objective for the company from C$28.00 to C$31.50 in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$27.94.

CI Financial Price Performance

The business’s 50 day moving average is C$27.44 and its two-hundred day moving average is C$20.40. 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 firm has a market capitalization of C$4.39 billion, a PE ratio of -115.04, 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.