CI Financial (TSE:CIX) Rating Lowered to Sell at TD Securities

CI Financial (TSE:CIX) was downgraded by equities researchers at TD Securities from a “buy” rating to a “sell” rating in a research report issued on Tuesday,BayStreet.CA reports. They presently have a C$32.00 price objective on the stock, up from their previous price objective of C$28.00. TD Securities’ price objective suggests a potential upside of 2.99% from the company’s previous close.

Several other research firms also recently weighed in on CIX. 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 lifted their price objective 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. BMO Capital Markets increased their target price on CI Financial from C$22.00 to C$25.00 in a research note on Friday, November 15th. Keefe, Bruyette & Woods lifted their target price on CI Financial from C$21.00 to C$28.00 in a research report on Monday, November 18th. Finally, Raymond James boosted their price target on shares of CI Financial from C$22.00 to C$27.00 in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, CI Financial has an average rating of “Hold” and an average price target of C$27.94.

CI Financial Stock Up 0.3 %

Shares of CIX opened at C$31.07 on Tuesday. 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 firm has a market cap of C$4.39 billion, a P/E ratio of -115.19, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The company’s 50-day moving average price is C$21.63 and its 200 day moving average price is C$17.70. CI Financial has a 12-month low of C$13.59 and a 12-month high of C$31.41.

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.