Scotiabank Forecasts Strong Price Appreciation for Intact Financial (TSE:IFC) Stock

Intact Financial (TSE:IFC) had its target price raised by Scotiabank from C$281.00 to C$283.00 in a research note issued on Thursday,BayStreet.CA reports. Scotiabank’s target price points to a potential upside of 6.97% from the company’s current price.

Several other equities research analysts have also commented on the stock. TD Securities raised their price target on shares of Intact Financial from C$293.00 to C$300.00 in a research note on Wednesday. Desjardins increased their target price on shares of Intact Financial from C$250.00 to C$255.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group dropped their price target on shares of Intact Financial from C$264.00 to C$262.00 and set a “hold” rating on the stock in a research report on Thursday, August 22nd. CIBC increased their price objective on shares of Intact Financial from C$250.00 to C$270.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Cormark boosted their target price on Intact Financial from C$250.00 to C$260.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Intact Financial currently has an average rating of “Moderate Buy” and a consensus price target of C$274.90.

Intact Financial Stock Performance

Shares of TSE:IFC traded down C$0.45 during trading on Thursday, hitting C$264.57. 87,917 shares of the company traded hands, compared to its average volume of 286,457. Intact Financial has a one year low of C$197.82 and a one year high of C$273.05. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 31.26. The business’s fifty day moving average is C$259.90 and its 200-day moving average is C$243.33. The stock has a market capitalization of C$47.19 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 2.01 and a beta of 0.57.

Insider Buying and Selling

In other Intact Financial news, Senior Officer Kenneth Anderson sold 2,000 shares of Intact Financial stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of C$253.88, for a total value of C$507,759.00. 0.24% of the stock is owned by insiders.

Intact Financial Company Profile

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally. The company offers insurance, such as personal auto which provides coverage from accidents, third party liability, and physical damage; personal property which provides protection for homes and contents from risks, including fire, theft, vandalism, water damages, other damages, and personal liability; and commercial line and specialty line insurance which provides commercial auto, property, and liability coverages.