Desjardins Reiterates “C$310.00” Price Target for Intact Financial (TSE:IFC)

Intact Financial (TSE:IFC) has been assigned a C$310.00 price target by investment analysts at Desjardins in a research note issued on Thursday, BayStreet reports. The firm presently has a “buy” rating on the stock. Desjardins‘s price objective would suggest a potential upside of 18.15% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Canadian Imperial Bank of Commerce reduced their price target on shares of Intact Financial from C$314.00 to C$311.00 in a research report on Thursday, July 30th. National Bank Financial boosted their target price on shares of Intact Financial from C$372.00 to C$379.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Barclays reduced their target price on Intact Financial from C$352.00 to C$344.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 29th. Scotiabank decreased their price objective on Intact Financial from C$330.00 to C$325.00 and set a “sector outperform” rating for the company in a report on Thursday, July 30th. Finally, Jefferies Financial Group lifted 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, July 27th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$323.85.

Intact Financial Price Performance

Shares of IFC stock traded up C$0.88 during trading hours on Thursday, reaching C$262.38. The stock had a trading volume of 116,905 shares, compared to its average volume of 464,011. The company has a current ratio of 7.21, a quick ratio of 0.28 and a debt-to-equity ratio of 23.22. Intact Financial has a 12 month low of C$236.92 and a 12 month high of C$305.52. The firm has a market capitalization of C$46.27 billion, a PE ratio of 14.59, a PEG ratio of 2.01 and a beta of 0.45. The stock’s fifty day simple moving average is C$256.72 and its 200 day simple moving average is C$265.25.

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. The firm had revenue of C$5.94 billion during the quarter. Intact Financial had a net margin of 12.04% and a return on equity of 15.73%. On average, equities research analysts predict that Intact Financial will post 16.17 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.