Raymond James Downgrades CI Financial (NYSE:CIXXF) to Strong Sell

CI Financial (NYSE:CIXXF) was downgraded by equities researchers at Raymond James from a “moderate buy” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other brokerages have also issued reports on CIXXF. TD Securities lowered shares of CI Financial from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods downgraded CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, November 25th.

CI Financial Price Performance

Shares of CIXXF stock opened at $21.73 on Thursday. CI Financial has a fifty-two week low of $10.16 and a fifty-two week high of $22.70. The company has a debt-to-equity ratio of 4.53, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -65.85 and a beta of 1.42. The stock’s 50-day simple moving average is $21.21 and its 200-day simple moving average is $16.24.

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.