CI Financial (TSE:CIX) Downgraded to “Strong Sell” Rating by Raymond James

CI Financial (TSE:CIX) was downgraded by Raymond James from a “moderate buy” rating to a “strong sell” rating in a report released on Thursday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods downgraded CI Financial from an “outperform” rating to a “market perform” rating and upped their price target for the stock from C$28.00 to C$31.50 in a research note on Tuesday, November 26th. TD Securities cut shares of CI Financial from a “buy” rating to a “sell” rating and lifted their price objective for the stock from C$28.00 to C$32.00 in a research note on Tuesday, November 26th. CIBC lifted their price target on CI Financial from C$23.00 to C$32.00 in a research report on Tuesday, November 26th. Jefferies Financial Group boosted their price objective on CI Financial from C$20.00 to C$27.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets raised their price objective on CI Financial from C$22.00 to C$25.00 in a research note on Friday, November 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CI Financial currently has an average rating of “Hold” and an average target price of C$27.94.

CI Financial Price Performance

Shares of TSE:CIX opened at C$31.16 on Thursday. The firm’s 50 day simple moving average is C$30.16 and its two-hundred day simple moving average is C$22.34. The company has a debt-to-equity ratio of 577.47, a current ratio of 0.34 and a quick ratio of 0.17. The company has a market capitalization of C$4.40 billion, a P/E ratio of -115.41, a P/E/G ratio of 0.04 and a beta of 1.67. CI Financial has a 1-year low of C$13.87 and a 1-year high of C$31.41.

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.