Fairfax Financial (TSE:FFH) Stock Passes Below 50 Day Moving Average – Time to Sell?

Fairfax Financial Holdings Limited (TSE:FFH) shares crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$2,447.85 and traded as low as C$2,331.19. Fairfax Financial shares last traded at C$2,356.86, with a volume of 35,453 shares.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Raymond James Financial dropped their target price on shares of Fairfax Financial from C$3,050.00 to C$2,900.00 in a report on Monday, November 10th. BMO Capital Markets lowered shares of Fairfax Financial from an “outperform” rating to a “hold” rating and dropped their price objective for the stock from C$2,600.00 to C$2,500.00 in a research note on Thursday, January 22nd. Royal Bank Of Canada set a C$2,200.00 price objective on shares of Fairfax Financial and gave the stock an “outperform” rating in a report on Monday, January 26th. Scotiabank lifted their target price on shares of Fairfax Financial from C$3,050.00 to C$3,150.00 in a report on Friday, January 30th. Finally, National Bank Financial set a C$3,200.00 price target on Fairfax Financial and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$2,764.29.

Fairfax Financial Stock Up 1.7%

The firm’s fifty day simple moving average is C$2,447.85 and its 200-day simple moving average is C$2,399.33. The firm has a market capitalization of C$52.15 billion, a PE ratio of 11.42, a PEG ratio of 0.27 and a beta of 0.15.

Fairfax Financial (TSE:FFH) last announced its quarterly earnings results on Thursday, November 6th. The company reported C$52.04 earnings per share for the quarter. Fairfax Financial had a net margin of 13.90% and a return on equity of 17.43%. The company had revenue of C$17.72 billion during the quarter. As a group, analysts predict that Fairfax Financial Holdings Limited will post 212.3039807 earnings per share for the current year.

About Fairfax Financial

Fairfax Financial is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.