CI Financial (TSE:CIX) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

CI Financial Corp. (TSE:CIX)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$23.68 and traded as high as C$31.30. CI Financial shares last traded at C$31.25, with a volume of 717,346 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CIX shares. BMO Capital Markets increased their target price on CI Financial from C$22.00 to C$25.00 in a report on Friday, November 15th. Jefferies Financial Group upped their price objective on CI Financial from C$20.00 to C$27.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. CIBC boosted their target price on shares of CI Financial from C$23.00 to C$32.00 in a research note on Tuesday, November 26th. TD Securities cut shares of CI Financial from a “buy” rating to a “sell” rating and upped their target price for the stock from C$28.00 to C$32.00 in a research report on Tuesday, November 26th. Finally, Raymond James cut CI Financial from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$27.94.

CI Financial Trading Up 0.1 %

The company has a current ratio of 0.34, a quick ratio of 0.17 and a debt-to-equity ratio of 577.47. The firm has a 50-day moving average price of C$31.05 and a 200-day moving average price of C$23.68. The company has a market capitalization of C$4.41 billion, a price-to-earnings ratio of -115.74, a PEG 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.