CI Financial (TSE:CIX) Cut to Strong Sell at Raymond James

Raymond James cut shares of CI Financial (TSE:CIX) from a moderate buy rating to a strong sell rating in a report issued on Thursday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. CIBC lifted their price objective on shares of CI Financial from C$23.00 to C$32.00 in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods downgraded 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 research note on Tuesday, November 26th. BMO Capital Markets raised their price target on shares of CI Financial from C$22.00 to C$25.00 in a report on Friday, November 15th. Scotiabank boosted their target price on shares of CI Financial from C$25.00 to C$26.00 in a research report on Friday, November 15th. Finally, Jefferies Financial Group increased their price target on CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two investment 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$27.94.

CI Financial Stock Down 0.0 %

Shares of TSE:CIX opened at C$31.16 on Thursday. 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 company’s fifty day moving average is C$30.16 and its two-hundred day moving average is C$22.40. CI Financial has a 1-year low of C$13.87 and a 1-year high of C$31.41. The stock has a market capitalization of C$4.40 billion, a price-to-earnings ratio of -115.41, a price-to-earnings-growth 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.