IGM Financial (TSE:IGM) had its target price boosted by equities researchers at BMO Capital Markets to C$44.00 in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. The firm presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target would indicate a potential downside of 1.37% from the stock’s previous close.
Several other brokerages have also recently weighed in on IGM. National Bankshares set a C$51.00 price target on IGM Financial and gave the company an “outperform” rating in a research report on Friday. TD Securities increased their price target on IGM Financial from C$41.00 to C$47.00 and gave the company a “hold” rating in a report on Monday, April 26th. Desjardins cut IGM Financial from a “buy” rating to a “hold” rating in a report on Friday, February 12th. National Bank Financial reaffirmed an “outperform market weight” rating on shares of IGM Financial in a report on Friday. Finally, CIBC reaffirmed an “outperform” rating and issued a C$45.00 target price on shares of IGM Financial in a report on Monday. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. IGM Financial presently has an average rating of “Buy” and a consensus price target of C$45.29.
Shares of IGM stock traded down C$0.25 during trading hours on Tuesday, reaching C$44.61. The company had a trading volume of 212,810 shares, compared to its average volume of 334,455. IGM Financial has a 12 month low of C$26.61 and a 12 month high of C$45.12. The company has a debt-to-equity ratio of 45.41, a current ratio of 2.61 and a quick ratio of 0.39. The business has a fifty day simple moving average of C$40.05 and a 200-day simple moving average of C$35.88. The company has a market cap of C$10.63 billion and a price-to-earnings ratio of 13.91.
About IGM Financial
IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management, Asset Management, and Strategic Investments and Other segments. The company offers financial advisory services; IG Living Plan that provides financial planning services, such as investment vehicles, insurance products, mortgage and banking solutions, and charitable giving program; IG Wealth Management Advisor Portal, a customer relationship management platform; and IG Wealth Management's dealer platform, which provides increased automation and supports both MFDA and IIROC licensed advisors, as well as new products on its investment dealer platform.
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