IGM Financial (TSE:IGM) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of IGM Financial Inc. (TSE:IGM) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$44.27 and traded as high as C$44.36. IGM Financial shares last traded at C$44.26, with a volume of 409,405 shares traded.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IGM. TD Securities raised their target price on shares of 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 IGM Financial from C$47.00 to C$48.00 in a research report on Monday, February 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, IGM Financial has a consensus rating of “Moderate Buy” and an average price target of C$50.29.

IGM Financial Price Performance

The firm has a market capitalization of C$10.55 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. The company has a current ratio of 3.61, a quick ratio of 0.31 and a debt-to-equity ratio of 97.24. The firm has a 50 day moving average price of C$44.88 and a 200-day moving average price of C$44.27.

IGM Financial Company Profile

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.