CI Financial (TSE:CIX) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

CI Financial Corp. (TSE:CIX - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$23.09 and traded as high as C$31.30. CI Financial shares last traded at C$31.30, with a volume of 267,809 shares changing hands.

Wall Street Analysts Forecast Growth

CIX has been the subject of several analyst reports. Scotiabank raised their price target on shares of CI Financial from C$25.00 to C$26.00 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 report on Tuesday, November 26th. TD Securities downgraded shares of CI Financial from a "buy" rating to a "sell" rating and lifted their price objective for the stock from C$28.00 to C$32.00 in a report on Tuesday, November 26th. Raymond James cut CI Financial from a "moderate buy" rating to a "strong sell" rating in a research note on Thursday, January 23rd. Finally, 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 note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of C$27.94.

CI Financial Stock Up 0.2 %

The company has a 50-day simple moving average of C$31.04 and a 200 day simple moving average of C$23.25. The company has a market cap of C$4.41 billion, a P/E ratio of -115.56, a P/E/G ratio of 0.04 and a beta of 1.67. The company has a current ratio of 0.34, a quick ratio of 0.17 and a debt-to-equity ratio of 577.47.

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.