CI Financial (TSE:CIX) Lowered to Market Perform Rating by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods lowered shares of CI Financial (TSE:CIX) from an outperform rating to a market perform rating in a report released on Tuesday morning, MarketBeat.com reports. The brokerage currently has C$31.50 target price on the stock, up from their previous target price of C$28.00.

CIX has been the subject of several other research reports. TD Securities cut shares of CI Financial from a “buy” rating to a “sell” rating and lifted their price target for the stock from C$28.00 to C$32.00 in a research report on Tuesday. Scotiabank lifted their target price on shares of CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. Jefferies Financial Group increased their price target on CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Raymond James raised their target price on CI Financial from C$27.00 to C$32.00 in a report on Tuesday. Finally, BMO Capital Markets upped their price target on CI Financial from C$22.00 to C$25.00 in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$27.94.

CI Financial Price Performance

CI Financial stock opened at C$31.05 on Tuesday. The business’s 50-day simple moving average is C$22.17 and its 200 day simple moving average is C$17.90. 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 stock has a market cap of C$4.39 billion, a price-to-earnings ratio of -115.00, a P/E/G ratio of 0.04 and a beta of 1.67. CI Financial has a 12-month low of C$13.87 and a 12-month 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.