Intact Financial (TSE:IFC) Price Target Raised to C$314.00 at Canadian Imperial Bank of Commerce

Intact Financial (TSE:IFC) had its price objective upped by Canadian Imperial Bank of Commerce from C$288.00 to C$314.00 in a research report released on Friday morning,BayStreet.CA reports.

Several other research firms have also recently issued reports on IFC. Barclays boosted their target price on shares of Intact Financial from C$322.00 to C$327.00 in a research note on Wednesday, May 6th. Desjardins dropped their price target on shares of 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. Raymond James Financial cut their price objective on Intact Financial from C$310.00 to C$305.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. National Bank Financial upped their price target on shares of Intact Financial from C$364.00 to C$372.00 in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada decreased their price objective on Intact Financial from C$304.00 to C$289.00 and set a “sector perform” rating on the stock in a report on Thursday, May 7th. One 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, Intact Financial currently has an average rating of “Moderate Buy” and a consensus price target of C$324.55.

Intact Financial Stock Performance

Intact Financial stock traded down C$2.46 during midday trading on Friday, hitting C$294.61. 333,877 shares of the company were exchanged, compared to its average volume of 468,814. The firm has a market capitalization of C$52.08 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 2.01 and a beta of 0.29. Intact Financial has a fifty-two week low of C$242.87 and a fifty-two week high of C$310.84. The business has a fifty day simple moving average of C$276.26 and a two-hundred day simple moving average of C$266.68. The company has a debt-to-equity ratio of 23.33, a quick ratio of 0.28 and a current ratio of 1.69.

Intact Financial (TSE:IFC) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$4.61 earnings per share for the quarter. The company 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, sell-side analysts forecast that Intact Financial will post 16.1721014 earnings per share for the current 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.