IGM Financial (TSE:IGM) Stock Rating Upgraded by Royal Bank Of Canada

IGM Financial (TSE:IGM - Get Free Report) was upgraded by investment analysts at Royal Bank Of Canada to a "hold" rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a C$46.00 price target on the financial services provider's stock. Royal Bank Of Canada's price target would indicate a potential upside of 6.80% from the company's previous close.

Several other research firms also recently commented on IGM. Scotiabank upped their price objective on IGM Financial from C$49.00 to C$51.00 in a research note on Friday, May 9th. Jefferies Financial Group dropped their price objective on IGM Financial from C$47.00 to C$42.00 in a research note on Monday, April 21st. Finally, BMO Capital Markets lowered their target price on IGM Financial from C$47.00 to C$46.00 in a report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of C$48.71.

IGM Financial Trading Down 0.3%

Shares of IGM stock traded down C$0.13 on Wednesday, hitting C$43.07. The stock had a trading volume of 506,744 shares, compared to its average volume of 317,683. IGM Financial has a 1 year low of C$35.33 and a 1 year high of C$47.96. The firm has a market capitalization of C$10.27 billion, a P/E ratio of 11.03, a P/E/G ratio of 4.09 and a beta of 1.53. The company has a debt-to-equity ratio of 97.24, a current ratio of 3.61 and a quick ratio of 0.31. The company's 50 day moving average price is C$43.58 and its 200-day moving average price is C$44.48.

About IGM Financial

IGM Financial is the largest non-bank-affiliated asset manager in Canada. The firm is part of the Power Financial group of companies, which includes Great-West Life, London Life, Canada Life, and Putnam Investments. IGM has two main operating divisionsasset management (operated through Mackenzie Investments) and wealth management (via its Investors Group Wealth Management and Investment Planning Counsel subsidiaries)that provide investment management products and services.