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

CI Financial (TSE:CIX) was downgraded by equities researchers at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday,BayStreet.CA reports. They currently have a C$31.50 price objective on the stock, up from their previous price objective of C$28.00. Keefe, Bruyette & Woods’ target price indicates a potential upside of 1.38% from the stock’s previous close.

Several other research firms have also recently commented on CIX. Scotiabank upped their price target on CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. Jefferies Financial Group boosted their price objective on CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets lifted their price target on shares of CI Financial from C$22.00 to C$25.00 in a research note on Friday, November 15th. Raymond James boosted their price target on shares of CI Financial from C$27.00 to C$32.00 in a report on Tuesday. Finally, TD Securities cut shares of CI Financial from a “buy” rating to a “sell” rating and increased their price objective for the company from C$28.00 to C$32.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$27.94.

CI Financial Stock Performance

TSE CIX opened at C$31.07 on Tuesday. The company’s fifty day moving average is C$21.63 and its two-hundred day moving average is C$17.70. The firm has a market capitalization of C$4.39 billion, a price-to-earnings ratio of -115.19, a P/E/G ratio of 0.04 and a beta of 1.67. The company has a debt-to-equity ratio of 577.47, a current ratio of 0.34 and a quick ratio of 0.17. CI Financial has a 52-week low of C$13.59 and a 52-week 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.