CI Financial (TSE:CIX) Sets New 1-Year High – Should You Buy?

CI Financial Corp. (TSE:CIX) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$31.48 and last traded at C$31.36, with a volume of 717866 shares trading hands. The stock had previously closed at C$31.35.

Wall Street Analysts Forecast Growth

CIX has been the topic of a number of analyst reports. BMO Capital Markets raised their price objective on shares of CI Financial from C$22.00 to C$25.00 in a report on Friday, November 15th. CIBC boosted their price target on CI Financial from C$23.00 to C$32.00 in a research report on Tuesday, November 26th. TD Securities lowered shares of CI Financial from a “buy” rating to a “sell” rating and lifted their price objective for the company from C$28.00 to C$32.00 in a research report on Tuesday, November 26th. Scotiabank boosted their target price on CI Financial from C$25.00 to C$26.00 in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods downgraded shares of CI Financial from an “outperform” rating to a “market perform” rating and increased their price target for the company from C$28.00 to C$31.50 in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$27.94.

CI Financial Stock Performance

The stock’s 50-day moving average is C$31.12 and its 200-day moving average is C$24.71. The company has a debt-to-equity ratio of 506.88, a current ratio of 0.32 and a quick ratio of 0.17. The stock has a market cap of C$4.52 billion, a price-to-earnings ratio of -65.37, a price-to-earnings-growth 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.