CI Financial (CIX) Price Target Increased to C$22.00 by Analysts at CIBC
A number of other research analysts have also recently commented on the stock. Desjardins cut their price target on shares of CI Financial from C$25.00 to C$24.00 in a research note on Friday, August 10th. Canaccord Genuity cut their price target on shares of CI Financial from C$30.00 to C$27.00 in a research note on Tuesday, July 31st. Barclays cut shares of CI Financial from an overweight rating to an equal weight rating and cut their price target for the stock from C$29.00 to C$24.00 in a research note on Friday, August 10th. Royal Bank of Canada cut their price target on shares of CI Financial from C$25.00 to C$22.00 and set an underperform rating for the company in a research note on Friday, August 10th. Finally, BMO Capital Markets cut their price target on shares of CI Financial from C$26.00 to C$25.00 in a research note on Monday, October 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of C$23.13.
CIX traded up C$0.43 during midday trading on Friday, reaching C$20.12. 1,304,000 shares of the company’s stock were exchanged, compared to its average volume of 687,433. The company has a debt-to-equity ratio of 82.07, a quick ratio of 0.47 and a current ratio of 0.74. CI Financial has a one year low of C$18.38 and a one year high of C$30.23.
In other news, Director Roy Ratnavel bought 10,000 shares of the business’s stock in a transaction dated Monday, August 20th. The stock was bought at an average price of C$21.55 per share, for a total transaction of C$215,500.00. Also, Director William Thomas Holland bought 56,500 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was purchased at an average price of C$21.04 per share, with a total value of C$1,188,760.00. Insiders bought 218,300 shares of company stock valued at $4,383,822 in the last quarter.
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.
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