Intact Financial (OTCMKTS:IFCZF) Shares Gap Down – Here’s Why

Shares of Intact Financial Co. (OTCMKTS:IFCZF) gapped down before the market opened on Friday . The stock had previously closed at $214.1650, but opened at $207.1750. Intact Financial shares last traded at $207.1750, with a volume of 1 shares trading hands.

Analysts Set New Price Targets

Several analysts recently weighed in on IFCZF shares. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Intact Financial in a research note on Friday. Barclays reaffirmed an “overweight” rating on shares of Intact Financial in a research report on Tuesday. Finally, TD Securities reiterated a “buy” rating on shares of Intact Financial in a report on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Intact Financial Price Performance

The business’s 50 day simple moving average is $197.60 and its 200 day simple moving average is $193.00. The stock has a market cap of $36.58 billion and a P/E ratio of 15.24.

Intact Financial (OTCMKTS:IFCZF) last issued its earnings results on Tuesday, May 5th. The company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.24. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Intact Financial had a return on equity of 19.25% and a net margin of 12.02%.

About Intact Financial

Intact Financial Corporation is a leading Canadian property and casualty insurance provider offering a broad range of personal and commercial insurance products and services. Its primary operations in Canada are conducted through Intact Insurance and belairdirect, while its specialty insurance business in the United States operates under the OneBeacon Insurance Group brand. The company’s portfolio includes coverage for auto, home, commercial property and casualty, specialty lines, and accident and health, supported by risk management and claims solutions tailored to individuals, small and medium-sized enterprises, and large corporate clients.

Tracing its origins to the Halifax Fire Insurance Association founded in 1809, Intact Financial has expanded through a series of strategic mergers and acquisitions.