CI Financial (TSE:CIX) Rating Lowered to "Strong Sell" at Raymond James

CI Financial (TSE:CIX - Get Free Report) was downgraded by stock analysts at Raymond James from a "moderate buy" rating to a "strong sell" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other analysts also recently issued reports on CIX. Jefferies Financial Group raised their price target on CI Financial from C$20.00 to C$27.00 and gave the stock a "buy" rating in a report on Friday, November 1st. TD Securities downgraded shares of CI Financial from a "buy" rating to a "sell" rating and boosted their price target for the company from C$28.00 to C$32.00 in a report on Tuesday, November 26th. BMO Capital Markets increased their price objective on shares of CI Financial from C$22.00 to C$25.00 in a report on Friday, November 15th. CIBC lifted their price objective on shares of CI Financial from C$23.00 to C$32.00 in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods lowered shares of CI Financial from an "outperform" rating to a "market perform" rating and raised their price target for the company from C$28.00 to C$31.50 in a research note on Tuesday, November 26th. Two 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 stock has an average rating of "Hold" and a consensus price target of C$27.94.

CI Financial Stock Performance

CIX traded down C$0.01 on Thursday, hitting C$31.16. 712,526 shares of the company's stock were exchanged, compared to its average volume of 848,891. 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 stock has a fifty day moving average of C$30.16 and a two-hundred day moving average of C$22.34. CI Financial has a twelve month low of C$13.87 and a twelve month high of C$31.41. The firm has a market cap of C$4.40 billion, a PE ratio of -115.41, a P/E/G ratio of 0.04 and a beta of 1.67.

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.