Raymond James Financial Issues Positive Forecast for Intact Financial (TSE:IFC) Stock Price

Intact Financial (TSE:IFC) had its price objective boosted by Raymond James Financial from C$303.00 to C$309.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage currently has a “buy” rating on the stock. Raymond James Financial‘s target price would indicate a potential upside of 9.66% from the company’s previous close.

Other research analysts have also issued research reports about the company. Scotiabank dropped their price target on Intact Financial from C$330.00 to C$325.00 and set a “sector outperform” rating for the company in a research report on Thursday, July 30th. RBC Dominion Securities decreased their price objective on Intact Financial from C$308.00 to C$285.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 15th. Canadian Imperial Bank of Commerce lowered their price objective on Intact Financial from C$314.00 to C$311.00 in a research note on Thursday, July 30th. TD raised their price objective on Intact Financial from C$303.00 to C$309.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Desjardins set a C$310.00 target price on Intact Financial and gave the stock a “buy” rating in a report on Thursday, October 29th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Intact Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of C$324.62.

Intact Financial Price Performance

Shares of TSE:IFC traded up C$19.04 on Wednesday, reaching C$281.77. The company’s stock had a trading volume of 303,702 shares, compared to its average volume of 463,685. Intact Financial has a 52-week low of C$236.92 and a 52-week high of C$305.52. The company has a market cap of C$49.69 billion, a P/E ratio of 15.67, a PEG ratio of 2.01 and a beta of 0.45. The company has a 50-day simple moving average of C$256.54 and a 200 day simple moving average of C$265.02. The company has a debt-to-equity ratio of 23.22, a quick ratio of 0.28 and a current ratio of 7.21.

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.