Canadian Imperial Bank of Commerce Cuts Intact Financial (TSE:IFC) Price Target to C$311.00

Intact Financial (TSE:IFC) had its price target reduced by Canadian Imperial Bank of Commerce from C$314.00 to C$311.00 in a research report report published on Thursday morning,BayStreet.CA reports.

Several other brokerages have also issued reports on IFC. National Bank Financial raised their price target on shares of Intact Financial from C$372.00 to C$379.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Jefferies Financial Group lifted their price target on shares of Intact Financial from C$343.00 to C$351.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Desjardins dropped their price objective on Intact Financial from C$305.00 to C$300.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Royal Bank Of Canada increased their price objective on Intact Financial from C$289.00 to C$299.00 and gave the company a “sector perform” rating in a report on Monday, July 13th. Finally, Barclays decreased their target price on Intact Financial from C$352.00 to C$344.00 and set an “overweight” rating for the company in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$331.09.

Intact Financial Price Performance

IFC opened at C$275.25 on Thursday. Intact Financial has a fifty-two week low of C$242.87 and a fifty-two week high of C$305.52. The firm has a 50-day moving average of C$285.52 and a 200 day moving average of C$267.58. The company has a debt-to-equity ratio of 23.22, a quick ratio of 0.28 and a current ratio of 7.21. The firm has a market cap of C$48.54 billion, a P/E ratio of 15.31, a PEG ratio of 2.01 and a beta of 0.29.

Intact Financial (TSE:IFC) last announced its quarterly earnings data on Tuesday, July 28th. The company reported C$4.33 EPS for the quarter. The business had revenue of C$5.94 billion for the quarter. Intact Financial had a net margin of 12.04% and a return on equity of 15.73%. On average, research analysts expect 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.