CI Financial (TSE:CIX) Stock Rating Lowered by Keefe, Bruyette & Woods

CI Financial (TSE:CIX) was downgraded by equities researchers at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday,BayStreet.CA reports. They presently have a C$31.50 price target on the stock, up from their previous price target of C$28.00. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 0.99% from the company’s current price.

Several other equities analysts have also weighed in on CIX. Raymond James lifted their target price on shares of CI Financial from C$27.00 to C$32.00 in a report on Tuesday. BMO Capital Markets boosted their price target on shares of CI Financial from C$22.00 to C$25.00 in a report on Friday, November 15th. TD Securities lowered shares of CI Financial from a “buy” rating to a “sell” rating and boosted their price target for the stock from C$28.00 to C$32.00 in a report on Tuesday. Jefferies Financial Group boosted their price target on shares of CI Financial from C$20.00 to C$27.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Scotiabank boosted their price target on shares of CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$27.94.

CI Financial Stock Performance

Shares of TSE:CIX traded down C$0.03 during trading on Tuesday, hitting C$31.19. 2,177,678 shares of the stock traded hands, compared to its average volume of 448,694. The company has a quick ratio of 0.17, a current ratio of 0.34 and a debt-to-equity ratio of 577.47. The company has a market cap of C$4.41 billion, a price-to-earnings ratio of -115.44, a P/E/G ratio of 0.04 and a beta of 1.67. The company has a fifty day moving average price of C$21.36 and a two-hundred day moving average price of C$17.60. CI Financial has a 52-week low of C$13.59 and a 52-week high of C$31.41.

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.