CI Financial (TSE:CIX) Reaches New 1-Year High – Still a Buy?

CI Financial Corp. (TSE:CIX) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$24.25 and last traded at C$24.23, with a volume of 204958 shares trading hands. The stock had previously closed at C$23.63.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CIX shares. Raymond James boosted their price target on shares of CI Financial from C$22.00 to C$27.00 in a report on Friday. Jefferies Financial Group boosted their price target on shares of CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Securities boosted their price target on shares of CI Financial from C$26.00 to C$28.00 and gave the company a “buy” rating in a report on Friday. BMO Capital Markets upped their price objective on shares of CI Financial from C$22.00 to C$25.00 in a report on Friday. Finally, Scotiabank upped their price objective on shares of CI Financial from C$25.00 to C$26.00 in a report on Friday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$23.63.

CI Financial Stock Down 1.8 %

The company has a debt-to-equity ratio of 577.47, a quick ratio of 0.17 and a current ratio of 0.34. The company has a market capitalization of C$3.40 billion, a price-to-earnings ratio of -89.19, a P/E/G ratio of 0.04 and a beta of 1.67. The stock’s fifty day simple moving average is C$20.41 and its two-hundred day simple moving average is C$17.24.

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.