IGM Financial (TSE:IGM) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of IGM Financial Inc. (TSE:IGM) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$43.75 and traded as high as C$43.89. IGM Financial shares last traded at C$43.67, with a volume of 342,152 shares.

Analyst Ratings Changes

A number of brokerages have weighed in on IGM. BMO Capital Markets lifted their target price on IGM Financial from C$47.00 to C$48.00 in a report on Monday, February 10th. TD Securities lifted their target price on IGM Financial from C$51.00 to C$56.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, IGM Financial currently has an average rating of “Moderate Buy” and a consensus price target of C$50.29.

IGM Financial Stock Up 0.8 %

The company has a quick ratio of 0.31, a current ratio of 3.61 and a debt-to-equity ratio of 97.24. The stock has a 50 day simple moving average of C$44.92 and a 200 day simple moving average of C$43.79. The stock has a market cap of C$10.49 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 4.09 and a beta of 1.53.

About IGM Financial

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.