Intact Financial (TSE:IFC) Price Target Raised to C$215.00 at Scotiabank

Intact Financial (TSE:IFCGet Rating) had its price target boosted by investment analysts at Scotiabank from C$210.00 to C$215.00 in a report issued on Friday, BayStreet.CA reports. Scotiabank’s price objective indicates a potential upside of 8.85% from the company’s current price.

Several other brokerages have also recently issued reports on IFC. National Bankshares raised their target price on Intact Financial from C$227.00 to C$230.00 and gave the stock an “outperform” rating in a research report on Friday, July 29th. Royal Bank of Canada raised their target price on Intact Financial from C$216.00 to C$219.00 and gave the stock an “outperform” rating in a research report on Friday, July 29th. TD Securities raised their target price on Intact Financial from C$215.00 to C$220.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Cormark dropped their target price on Intact Financial from C$210.00 to C$200.00 in a research report on Tuesday, August 2nd. Finally, Raymond James raised their target price on Intact Financial from C$206.00 to C$229.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, August 2nd. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$215.64.

Intact Financial Stock Performance

Shares of Intact Financial stock traded down C$1.28 during trading on Friday, hitting C$197.52. 166,485 shares of the company’s stock traded hands, compared to its average volume of 389,465. The company has a debt-to-equity ratio of 30.85, a current ratio of 0.44 and a quick ratio of 0.27. Intact Financial has a 1 year low of C$158.00 and a 1 year high of C$205.40. The stock has a market capitalization of C$34.63 billion and a P/E ratio of 13.64. The business has a 50-day simple moving average of C$192.24 and a 200-day simple moving average of C$185.54.

Intact Financial (TSE:IFCGet Rating) last released its quarterly earnings data on Thursday, July 28th. The company reported C$7.29 EPS for the quarter, beating the consensus estimate of C$2.84 by C$4.45. The business had revenue of C$5.34 billion for the quarter. As a group, analysts forecast that Intact Financial will post 13.0600009 EPS for the current year.

Insider Activity at Intact Financial

In related news, Senior Officer Anne Fortin sold 350 shares of Intact Financial stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of C$191.39, for a total transaction of C$66,986.50. Following the sale, the insider now owns 8,936 shares of the company’s stock, valued at approximately C$1,710,261.04. In related news, Senior Officer Louis Marcotte sold 4,000 shares of Intact Financial stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of C$194.91, for a total transaction of C$779,640.00. Following the sale, the insider now owns 26,155 shares of the company’s stock, valued at approximately C$5,097,871.05. Also, Senior Officer Anne Fortin sold 350 shares of Intact Financial stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of C$191.39, for a total value of C$66,986.50. Following the sale, the insider now directly owns 8,936 shares in the company, valued at approximately C$1,710,261.04.

Intact Financial Company Profile

(Get Rating)

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, Ireland, rest of Europe, and the Middle East. It offers personal auto insurance; insurance for motor homes, recreational vehicles, motorcycles, snowmobiles, and all-terrain vehicles; personal property insurance, such as protection for homes and contents from risks, including fire, theft, vandalism, water damage, and other damages, as well as personal liability coverage; and property coverage for tenants, condominium owners, non-owner occupied residences, and seasonal residences.

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Analyst Recommendations for Intact Financial (TSE:IFC)

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