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

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

Several other equities analysts have also weighed in on the stock. Scotiabank increased their price target on shares of CI Financial from C$25.00 to C$26.00 in a research report on Friday, November 15th. Keefe, Bruyette & Woods downgraded shares of CI Financial from an “outperform” rating to a “market perform” rating and increased their target price for the company from C$28.00 to C$31.50 in a research report on Tuesday, November 26th. BMO Capital Markets lifted their price target on shares of CI Financial from C$22.00 to C$25.00 in a report on Friday, November 15th. CIBC increased their price objective on CI Financial from C$23.00 to C$32.00 in a report on Tuesday, November 26th. Finally, Jefferies Financial Group boosted their target price 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. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$27.94.

CI Financial Stock Performance

Shares of CI Financial stock opened at C$31.16 on Thursday. The firm has a market capitalization of C$4.40 billion, a P/E ratio of -115.41, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The company has a current ratio of 0.34, a quick ratio of 0.17 and a debt-to-equity ratio of 577.47. The business’s fifty day simple moving average is C$30.16 and its 200 day simple moving average is C$22.34. 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.