Intact Financial (TSE:IFC) Reaches New 52-Week High – Should You Buy?

Intact Financial Co. (TSE:IFC)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$25.97 and last traded at C$297.69, with a volume of 64169 shares traded. The stock had previously closed at C$298.79.

Analyst Ratings Changes

IFC has been the topic of several recent analyst reports. TD reduced their price objective on shares of Intact Financial from C$354.00 to C$347.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Barclays lifted their price target on shares of Intact Financial from C$322.00 to C$327.00 in a report on Wednesday, May 6th. Royal Bank Of Canada cut their price objective on Intact Financial from C$304.00 to C$289.00 and set a “sector perform” rating for the company in a research report on Thursday, May 7th. Raymond James Financial dropped their price target on 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. Finally, Desjardins reduced their price objective on 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$322.18.

Intact Financial Price Performance

The stock has a 50 day moving average of C$272.09 and a 200-day moving average of C$265.98. 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 capitalization of C$52.62 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 2.01 and a beta of 0.29.

Intact Financial (TSE:IFC) last released its earnings results on Tuesday, May 5th. The company reported C$4.61 earnings per share for the quarter. The business had revenue of C$5.83 billion during the quarter. Intact Financial had a return on equity of 16.93% and a net margin of 12.76%. On average, equities research analysts anticipate that Intact Financial Co. will post 16.1721014 earnings per share for the current fiscal year.

Intact Financial Company Profile

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.