Intact Financial (TSE:IFC) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Intact Financial Co. (TSE:IFC)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$265.17 and traded as high as C$279.44. Intact Financial shares last traded at C$277.64, with a volume of 421,808 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have commented on IFC. Jefferies Financial Group lifted their price target on Intact Financial from C$306.00 to C$324.00 in a research report on Monday, May 4th. Desjardins lowered their price objective on shares of Intact Financial from C$305.00 to C$300.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Royal Bank Of Canada lowered their price objective on shares of Intact Financial from C$304.00 to C$289.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. National Bank Financial boosted their target price on shares of Intact Financial from C$364.00 to C$372.00 in a research report on Wednesday, April 29th. Finally, Raymond James Financial cut their target price on shares of Intact Financial from C$310.00 to C$305.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$322.18.

Intact Financial Stock Performance

The firm has a fifty day simple moving average of C$264.80 and a 200 day simple moving average of C$265.05. The company has a current ratio of 1.69, a quick ratio of 0.28 and a debt-to-equity ratio of 23.33. The stock has a market cap of C$49.19 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 2.01 and a beta of 0.32.

Intact Financial (TSE:IFC) last released its quarterly earnings data on Tuesday, May 5th. The company reported C$4.61 earnings per share (EPS) for the quarter. The business had revenue of C$5.83 billion for the quarter. Intact Financial had a return on equity of 16.93% and a net margin of 12.76%. As a group, sell-side analysts expect that Intact Financial Co. will post 16.1721014 earnings per share for the current year.

About Intact Financial

Intact Financial Corp is a property and casualty insurance company that provides written premiums in Canada. The company distributes insurance under the Intact Insurance brand through a network of brokers and a wholly-owned subsidiary, BrokerLink, and directly to consumers through Belairdirect. Most of the company’s direct premiums are written in the personal automotive space. Intact directly manages its investments through subsidiary Intact Investment Management. The vast majority of these invested assets are fixed-income securities.