Jefferies Financial Group Issues Pessimistic Forecast for Intact Financial (TSE:IFC) Stock Price

Intact Financial (TSE:IFC) had its price target reduced by Jefferies Financial Group from C$321.00 to C$306.00 in a research note issued on Thursday,BayStreet.CA reports. Jefferies Financial Group’s target price would indicate a potential upside of 17.10% from the company’s current price.

A number of other research analysts have also weighed in on IFC. Raymond James Financial dropped their price objective on Intact Financial from C$330.00 to C$310.00 in a report on Wednesday. Canadian Imperial Bank of Commerce lowered their price target on shares of Intact Financial from C$315.00 to C$288.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 22nd. TD Securities increased their price target on shares of Intact Financial from C$346.00 to C$354.00 and gave the company a “buy” rating in a report on Wednesday. Desjardins decreased their price objective on shares of 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, Barclays upped their target price on shares of Intact Financial from C$312.00 to C$318.00 in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$315.55.

Intact Financial Stock Performance

Intact Financial stock traded up C$7.77 during mid-day trading on Thursday, reaching C$261.32. 250,250 shares of the company were exchanged, compared to its average volume of 497,404. The firm has a market cap of C$46.43 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 2.01 and a beta of 0.07. The firm’s 50-day simple moving average is C$272.10 and its two-hundred day simple moving average is C$273.66. Intact Financial has a twelve month low of C$244.01 and a twelve month high of C$317.35.

Intact Financial (TSE:IFC) last issued its quarterly earnings results on Tuesday, February 10th. The company reported C$5.40 earnings per share (EPS) for the quarter. Intact Financial had a net margin of 8.60% and a return on equity of 13.13%. The business had revenue of C$7.10 billion for the quarter. As a group, equities research analysts anticipate 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.