IGM Financial (TSE:IGM) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

IGM Financial Inc. (TSE:IGM)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$44.02 and traded as high as C$44.80. IGM Financial shares last traded at C$44.52, with a volume of 903,985 shares.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IGM. TD Securities raised their target price on IGM Financial from C$51.00 to C$56.00 and gave the company a “buy” rating in a research note on Monday, February 10th. BMO Capital Markets raised their price objective on shares of IGM Financial from C$47.00 to C$48.00 in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$50.29.

IGM Financial Stock Performance

The stock has a market capitalization of C$10.62 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. The company has a debt-to-equity ratio of 97.24, a current ratio of 3.61 and a quick ratio of 0.31. The stock has a 50-day moving average of C$44.82 and a 200 day moving average of C$44.02.

About IGM Financial

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.