CI Financial (TSE:CIX) Reaches New 12-Month High – Still a Buy?

CI Financial Corp. (TSE:CIX)’s stock price reached a new 52-week high on Friday . The stock traded as high as C$31.43 and last traded at C$31.38, with a volume of 17533 shares changing hands. The stock had previously closed at C$31.31.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CIX shares. BMO Capital Markets lifted their price target on shares of CI Financial from C$22.00 to C$25.00 in a report on Friday, November 15th. Jefferies Financial Group lifted their price target on shares of CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a report on Friday, November 1st. Raymond James cut shares of CI Financial from a “moderate buy” rating to a “strong sell” rating in a report on Thursday, January 23rd. Scotiabank boosted their target price on shares of CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods cut shares of CI Financial from an “outperform” rating to a “market perform” rating and boosted their target price for the company from C$28.00 to C$31.50 in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CI Financial presently has an average rating of “Hold” and an average price target of C$27.94.

CI Financial Trading Up 0.1 %

The firm has a 50-day moving average price of C$31.06 and a 200-day moving average price of C$23.89. The company has a debt-to-equity ratio of 506.88, a quick ratio of 0.17 and a current ratio of 0.32. The stock has a market cap of C$4.52 billion, a PE ratio of -65.33, 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.