CI Financial (TSE:CIX) Hits New 52-Week High – Still a Buy?

CI Financial Corp. (TSE:CIX)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as C$31.43 and last traded at C$31.33, with a volume of 497902 shares trading hands. The stock had previously closed at C$31.36.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. TD Securities cut shares of CI Financial from a “buy” rating to a “sell” rating and lifted their price target for the company from C$28.00 to C$32.00 in a report on Tuesday, November 26th. Jefferies Financial Group lifted their target price on shares of CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods downgraded shares of CI Financial from an “outperform” rating to a “market perform” rating and increased their price target for the stock from C$28.00 to C$31.50 in a research note on Tuesday, November 26th. CIBC lifted their price objective on CI Financial from C$23.00 to C$32.00 in a research report on Tuesday, November 26th. Finally, BMO Capital Markets upped their target price on CI Financial from C$22.00 to C$25.00 in a report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, CI Financial presently has an average rating of “Hold” and an average target price of C$27.94.

CI Financial Price Performance

The firm has a market cap of C$4.52 billion, a P/E ratio of -65.37, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The company has a debt-to-equity ratio of 506.88, a current ratio of 0.32 and a quick ratio of 0.17. The firm’s 50 day moving average is C$31.10 and its 200 day moving average is C$24.52.

About CI Financial

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.