CI Financial (TSE:CIX) Trading Up 30.1% – Should You Buy?

CI Financial Corp. (TSE:CIX)’s stock price was up 30.1% during mid-day trading on Monday . The stock traded as high as C$31.36 and last traded at C$31.23. Approximately 28,110 shares changed hands during trading, a decline of 93% from the average daily volume of 416,334 shares. The stock had previously closed at C$24.01.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CIX shares. Keefe, Bruyette & Woods lifted their price target on CI Financial from C$21.00 to C$28.00 in a research note on Monday, November 18th. Scotiabank lifted their price objective on CI Financial from C$25.00 to C$26.00 in a research report on Friday, November 15th. TD Securities lifted their price objective on CI Financial from C$26.00 to C$28.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group lifted their price objective on CI Financial from C$20.00 to C$27.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Raymond James lifted their price objective on CI Financial from C$22.00 to C$27.00 in a research report on Friday, November 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$24.50.

CI Financial Stock Up 30.2 %

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$4.42 billion, a P/E ratio of -115.67, a P/E/G ratio of 0.04 and a beta of 1.67. The stock has a fifty day moving average price of C$21.08 and a two-hundred day moving average price of C$17.51.

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.