IGM Financial (IGM) Price Target Lowered to C$40.00 at Royal Bank of Canada

IGM Financial (TSE:IGM) had its target price lowered by Royal Bank of Canada from C$41.00 to C$40.00 in a report issued on Monday, May 6th, BayStreet.CA reports. The brokerage currently has a sector perform rating on the financial services provider’s stock.

Several other equities analysts also recently issued reports on IGM. Barclays decreased their price objective on shares of IGM Financial from C$34.00 to C$31.00 in a report on Monday, January 21st. Canaccord Genuity decreased their price target on shares of IGM Financial from C$36.00 to C$34.00 in a research note on Wednesday, January 30th. Desjardins downgraded shares of IGM Financial from a buy rating to a hold rating and decreased their price target for the stock from C$39.00 to C$37.00 in a research note on Monday, February 4th. Finally, CIBC raised their price target on shares of IGM Financial from C$39.00 to C$41.00 in a research note on Monday, February 11th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of C$37.71.

TSE IGM traded up C$0.18 during mid-day trading on Monday, reaching C$36.68. 552,272 shares of the stock were exchanged, compared to its average volume of 249,727. The company has a debt-to-equity ratio of 48.58, a quick ratio of 0.61 and a current ratio of 4.38. The company has a market capitalization of $8.84 billion and a PE ratio of 11.79. IGM Financial has a 1 year low of C$29.84 and a 1 year high of C$39.96.

IGM Financial Company Profile

IGM Financial Inc, a financial services company, manages and distributes investment funds and other managed asset products in Canada. The company operates through Investors Group, Mackenzie Investments, and Corporate and Other segments. The company also offers financial planning services, including investment, tax, retirement, education, risk management, and estate planning; strategic investment planning tools; mutual funds; iProfile, a portfolio management program; and separately managed accounts and fee-based brokerage accounts.

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Analyst Recommendations for IGM Financial (TSE:IGM)

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