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

Raymond James lowered shares of CI Financial (TSE:CIX) from a moderate buy rating to a strong sell rating in a report published on Thursday morning,Zacks.com reports.

A number of other equities research analysts also recently issued reports on CIX. BMO Capital Markets increased their price objective on CI Financial from C$22.00 to C$25.00 in a research report on Friday, November 15th. Scotiabank raised their price target on CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. CIBC boosted their price objective on CI Financial from C$23.00 to C$32.00 in a report on Tuesday, November 26th. Jefferies Financial Group raised their target price on shares of 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. Finally, TD Securities cut shares of CI Financial from a “buy” rating to a “sell” rating and boosted their price target for the stock from C$28.00 to C$32.00 in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$27.94.

CI Financial Stock Performance

CI Financial stock opened at C$31.16 on Thursday. CI Financial has a 1-year low of C$13.87 and a 1-year high of C$31.41. 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 capitalization of C$4.40 billion, a PE ratio of -115.41, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The firm’s 50 day simple moving average is C$30.16 and its 200 day simple moving average is C$22.34.

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.