CI Financial (TSE:CIX) Hits New 1-Year High – What’s Next?

CI Financial Corp. (TSE:CIX) shares hit a new 52-week high during trading on Tuesday . The company traded as high as C$31.41 and last traded at C$31.22, with a volume of 5734430 shares. The stock had previously closed at C$24.01.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CIX. Raymond James lifted their price target on CI Financial from C$22.00 to C$27.00 in a research report on Friday, November 15th. 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. BMO Capital Markets increased 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 lifted their price objective on shares of CI Financial from C$26.00 to C$28.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Jefferies Financial Group increased their target price on shares of 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. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$24.50.

CI Financial Trading Up 30.0 %

The firm has a market capitalization of C$4.41 billion, a PE ratio of -115.63, a P/E/G ratio of 0.04 and a beta of 1.67. The company’s fifty day simple moving average is C$21.36 and its 200-day simple moving average is C$17.60. The company has a debt-to-equity ratio of 577.47, a current ratio of 0.34 and a quick ratio of 0.17.

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.