Intact Financial (TSE:IFC) PT Raised to C$238.00 at Desjardins

Intact Financial (TSE:IFC) had its target price lifted by research analysts at Desjardins from C$235.00 to C$238.00 in a research report issued on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price target indicates a potential upside of 8.34% from the company’s current price. Desjardins also issued estimates for Intact Financial’s Q1 2024 earnings at $3.50 EPS and FY2024 earnings at $14.65 EPS.

A number of other equities research analysts have also issued reports on the stock. National Bankshares cut their price target on shares of Intact Financial from C$250.00 to C$245.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. TD Securities raised their price target on shares of Intact Financial from C$225.00 to C$235.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Royal Bank of Canada lifted their target price on shares of Intact Financial from C$228.00 to C$229.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 14th. BMO Capital Markets lifted their target price on shares of Intact Financial from C$230.00 to C$240.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Finally, CIBC lifted their target price on shares of Intact Financial from C$225.00 to C$250.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Intact Financial currently has a consensus rating of “Moderate Buy” and an average price target of C$236.70.

Intact Financial Stock Performance

Intact Financial stock opened at C$219.67 on Tuesday. The firm’s fifty day moving average price is C$222.85 and its 200-day moving average price is C$210.56. The company has a debt-to-equity ratio of 34.90, a quick ratio of 0.28 and a current ratio of 0.38. The stock has a market cap of C$39.17 billion, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. Intact Financial has a fifty-two week low of C$188.22 and a fifty-two week high of C$237.25.

Intact Financial (TSE:IFC) last issued its earnings results on Tuesday, February 13th. The company reported C$3.47 EPS for the quarter, topping analysts’ consensus estimates of C$3.44 by C$0.03. The company had revenue of C$6.53 billion for the quarter. Intact Financial had a net margin of 4.59% and a return on equity of 8.16%. On average, equities research analysts expect that Intact Financial will post 14.4651774 earnings per share for the current fiscal year.

Insider Buying and Selling at Intact Financial

In other Intact Financial news, Senior Officer Benoit Morissette sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of C$226.23, for a total transaction of C$1,583,589.00. 0.23% of the stock is owned by corporate insiders.

Intact Financial Company Profile

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally. The company offers insurance, such as personal auto which provides coverage from accidents, third party liability, and physical damage; personal property which provides protection for homes and contents from risks, including fire, theft, vandalism, water damages, other damages, and personal liability; and commercial line and specialty line insurance which provides commercial auto, property, and liability coverages.