CI Financial (TSE:CIX) Lowered to “Market Perform” Rating by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods downgraded shares of CI Financial (TSE:CIX) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has C$31.50 price target on the stock, up from their previous price target of C$28.00.

A number of other analysts have also recently commented on the stock. Raymond James upped their target price on shares of CI Financial from C$27.00 to C$32.00 in a report on Tuesday. Jefferies Financial Group boosted their price objective on shares of CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets raised their target price on CI Financial from C$22.00 to C$25.00 in a report on Friday, November 15th. Scotiabank boosted their price target on CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. Finally, TD Securities cut CI Financial from a “buy” rating to a “sell” rating and upped their price target for the stock from C$28.00 to C$32.00 in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$27.94.

CI Financial Price Performance

TSE CIX opened at C$30.98 on Tuesday. The company has a 50-day moving average price of C$21.36 and a 200-day moving average price of C$17.60. CI Financial has a 52 week low of C$13.59 and a 52 week high of C$31.41. The company has a quick ratio of 0.17, a current ratio of 0.34 and a debt-to-equity ratio of 577.47. The firm has a market capitalization of C$4.38 billion, a P/E ratio of -115.52, a PEG ratio of 0.04 and a beta of 1.67.

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.