Intact Financial (TSE:IFC) Hits New 12-Month High – Here’s Why

Intact Financial Co. (TSE:IFC)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$26.38 and last traded at C$267.92, with a volume of 552398 shares changing hands. The stock had previously closed at C$272.58.

Analysts Set New Price Targets

A number of research firms have weighed in on IFC. Royal Bank Of Canada increased their price target on shares of Intact Financial from C$299.00 to C$308.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. TD lowered their price objective on shares of Intact Financial from C$347.00 to C$345.00 and set a “buy” rating for the company in a research note on Wednesday, July 29th. Canadian Imperial Bank of Commerce dropped their price objective on Intact Financial from C$314.00 to C$311.00 in a report on Thursday, July 30th. Desjardins cut their target price on Intact Financial from C$305.00 to C$300.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Finally, Jefferies Financial Group lifted their target price on Intact Financial from C$343.00 to C$351.00 and gave the company a “buy” rating in a report on Monday, July 27th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$331.09.

Intact Financial Price Performance

The stock has a market cap of C$47.25 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 2.01 and a beta of 0.30. The company has a quick ratio of 0.28, a current ratio of 7.21 and a debt-to-equity ratio of 23.22. The company’s fifty day moving average is C$286.79 and its 200 day moving average is C$268.26.

Intact Financial (TSE:IFC) last released its quarterly earnings data on Tuesday, July 28th. The company reported C$4.33 earnings per share (EPS) for the quarter. Intact Financial had a net margin of 12.04% and a return on equity of 15.73%. The company had revenue of C$5.94 billion during the quarter. As a group, sell-side analysts anticipate that Intact Financial Co. will post 16.1721014 earnings per share for the current fiscal 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.