Intact Financial (TSE:IFC) Price Target Cut to C$344.00 by Analysts at Barclays

Intact Financial (TSE:IFC) had its price target decreased by Barclays from C$352.00 to C$344.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 19.41% from the stock’s previous close.

IFC has been the topic of a number of other research reports. Canadian Imperial Bank of Commerce upped their price target on Intact Financial from C$288.00 to C$314.00 in a report on Friday, July 10th. Desjardins decreased their price objective 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. Jefferies Financial Group increased their price objective on shares of Intact Financial from C$343.00 to C$351.00 and gave the company a “buy” rating in a research note on Monday. Raymond James Financial cut their target price on shares of 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. Finally, Royal Bank Of Canada increased their price target on shares of Intact Financial from C$289.00 to C$299.00 and gave the company a “sector perform” rating in a research report on Monday, July 13th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$329.91.

Intact Financial Stock Performance

TSE:IFC traded down C$16.91 during midday trading on Wednesday, reaching C$288.09. The stock had a trading volume of 449,147 shares, compared to its average volume of 457,991. The stock has a market cap of C$50.93 billion, a P/E ratio of 15.34, a P/E/G ratio of 2.01 and a beta of 0.29. Intact Financial has a 12-month low of C$242.87 and a 12-month high of C$310.84. The firm has a fifty day simple moving average of C$285.32 and a two-hundred day simple moving average of C$267.49. The company has a quick ratio of 0.28, a current ratio of 1.69 and a debt-to-equity ratio of 23.33.

Intact Financial (TSE:IFC) last announced 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 company had revenue of C$5.94 billion for the quarter. On average, equities analysts expect that Intact Financial will post 16.1721014 EPS for the current 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.