Intact Financial (TSE:IFC) Hits New 1-Year High – What’s Next?

Intact Financial Co. (TSE:IFC)’s share price hit a new 52-week high during trading on Monday . The company traded as high as C$24.60 and last traded at C$295.50, with a volume of 94822 shares trading hands. The stock had previously closed at C$293.46.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IFC. Royal Bank Of Canada upped their target price on Intact Financial from C$289.00 to C$299.00 and gave the stock a “sector perform” rating in a research report on Monday, July 13th. National Bank Financial boosted their target price on shares of Intact Financial from C$364.00 to C$372.00 in a research report on Wednesday, April 29th. TD lowered their target price on shares of Intact Financial from C$354.00 to C$347.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Canadian Imperial Bank of Commerce lifted their price target on Intact Financial from C$288.00 to C$314.00 in a research note on Friday, July 10th. Finally, Jefferies Financial Group boosted their price objective on Intact Financial from C$306.00 to C$324.00 in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$325.45.

Intact Financial Stock Performance

The company’s 50 day moving average price is C$283.89 and its 200-day moving average price is C$267.17. The stock has a market cap of C$52.44 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 2.01 and a beta of 0.29. The company has a debt-to-equity ratio of 23.33, a quick ratio of 0.28 and a current ratio of 1.69.

Intact Financial (TSE:IFC) last released its quarterly earnings results on Tuesday, May 5th. The company reported C$4.61 earnings per share for the quarter. Intact Financial had a net margin of 12.76% and a return on equity of 16.93%. The business had revenue of C$5.83 billion for the quarter. Equities analysts forecast that Intact Financial Co. will post 16.1721014 EPS for the current fiscal 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.