Intact Financial (TSE:IFC) Hits New 1-Year High on Analyst Upgrade

Intact Financial Co. (TSE:IFC)’s stock price hit a new 52-week high during trading on Monday after Jefferies Financial Group raised their price target on the stock from C$343.00 to C$351.00. Jefferies Financial Group currently has a buy rating on the stock. Intact Financial traded as high as C$24.60 and last traded at C$295.50, with a volume of 94822 shares changing hands. The stock had previously closed at C$293.46.

IFC has been the subject of several other reports. Royal Bank Of Canada upped their target price on shares of Intact Financial from C$289.00 to C$299.00 and gave the stock a “sector perform” rating in a research report on Monday, July 13th. Barclays upped their target price on Intact Financial from C$322.00 to C$327.00 in a research note on Wednesday, May 6th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Intact Financial from C$288.00 to C$314.00 in a report on Friday, July 10th. Desjardins lowered their price target on shares of Intact Financial from C$305.00 to C$300.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Finally, National Bank Financial lifted their price objective on Intact Financial from C$372.00 to C$379.00 and gave the stock an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Intact Financial currently has an average rating of “Moderate Buy” and an average price target of C$328.55.

Intact Financial Price Performance

The company has a debt-to-equity ratio of 23.33, a quick ratio of 0.28 and a current ratio of 1.69. The business has a 50-day simple moving average of C$285.32 and a 200 day simple moving average of C$267.49. The firm has a market cap of C$53.92 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 2.01 and a beta of 0.29.

Intact Financial (TSE:IFC) last issued its quarterly earnings data on Tuesday, July 28th. The company reported C$4.33 earnings per share for the quarter. Intact Financial had a return on equity of 16.93% and a net margin of 12.76%.The firm had revenue of C$5.94 billion for the quarter. On average, 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.