CI Financial (TSE:CIX) Rating Lowered to “Strong Sell” at Raymond James

CI Financial (TSE:CIX) was downgraded by research analysts at Raymond James from a “moderate buy” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

CIX has been the subject of several other research reports. Keefe, Bruyette & Woods downgraded CI Financial from an “outperform” rating to a “market perform” rating and raised their target price for the stock from C$28.00 to C$31.50 in a research report on Tuesday, November 26th. TD Securities cut CI Financial from a “buy” rating to a “sell” rating and lifted 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 shares of CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. CIBC lifted their price target on shares of CI Financial from C$23.00 to C$32.00 in a report on Tuesday, November 26th. Finally, BMO Capital Markets upped their price objective on shares of CI Financial from C$22.00 to C$25.00 in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CI Financial presently has a consensus rating of “Hold” and an average price target of C$27.94.

CI Financial Stock Performance

TSE:CIX opened at C$31.16 on Thursday. The firm has a market capitalization of C$4.40 billion, a PE ratio of -115.41, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The company has a quick ratio of 0.17, a current ratio of 0.34 and a debt-to-equity ratio of 577.47. CI Financial has a 12-month low of C$13.87 and a 12-month high of C$31.41. The firm has a 50-day moving average price of C$30.16 and a 200 day moving average price of C$22.34.

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.