Intact Financial (TSE:IFC) Given New C$354.00 Price Target at TD Securities

Intact Financial (TSE:IFC) had its price objective raised by TD Securities from C$346.00 to C$354.00 in a report released on Wednesday,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other brokerages have also recently commented on IFC. Raymond James Financial reduced their target price on shares of Intact Financial from C$330.00 to C$310.00 in a report on Wednesday. National Bank Financial increased their price objective on shares of Intact Financial from C$352.00 to C$358.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Scotiabank decreased their price objective on Intact Financial from C$339.00 to C$318.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. Desjardins dropped their target price on Intact Financial from C$335.00 to C$305.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Finally, BMO Capital Markets increased their price target on Intact Financial from C$315.00 to C$320.00 in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$316.82.

Intact Financial Trading Down 3.8%

IFC stock opened at C$253.55 on Wednesday. The stock has a 50-day moving average price of C$272.10 and a two-hundred day moving average price of C$273.66. Intact Financial has a 1 year low of C$244.01 and a 1 year high of C$317.35. The stock has a market cap of C$45.05 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 2.01 and a beta of 0.07.

Intact Financial (TSE:IFC) last posted its quarterly earnings data on Tuesday, November 4th. The company reported C$4.46 earnings per share (EPS) for the quarter. The business had revenue of C$6.45 billion during the quarter. Intact Financial had a return on equity of 13.13% and a net margin of 8.60%. On average, analysts forecast that Intact Financial 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.