Fairfax Financial (OTCMKTS:FRFHF) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Shares of Fairfax Financial Holdings Ltd. (OTCMKTS:FRFHF) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $1,643.08 and traded as high as $1,729.98. Fairfax Financial shares last traded at $1,695.29, with a volume of 10,981 shares.

Analysts Set New Price Targets

A number of research firms recently weighed in on FRFHF. Zacks Research lowered shares of Fairfax Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Scotiabank reaffirmed an “outperform” rating on shares of Fairfax Financial in a research report on Friday, July 24th. Finally, Canadian Imperial Bank of Commerce started coverage on Fairfax Financial in a report on Friday, June 26th. They set a “neutral” rating for the company. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Fairfax Financial has an average rating of “Moderate Buy”.

Fairfax Financial Trading Down 1.8%

The stock has a market capitalization of $35.31 billion, a PE ratio of 8.31 and a beta of 0.49. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $1,643.08 and a 200-day moving average price of $1,675.49.

About Fairfax Financial

Fairfax Financial (OTCMKTS:FRFHF) is a Toronto-based financial holding company primarily engaged in property and casualty insurance, reinsurance and investment management. The company underwrites a broad range of commercial and personal insurance products, operates specialty and run-off reinsurance businesses, and manages a diversified investment portfolio largely funded by insurance float. Fairfax conducts its insurance operations through a network of subsidiaries and affiliated companies that provide local underwriting and claims services across multiple markets.

On the insurance side, Fairfax writes a mix of short-tail and long-tail coverages across specialty lines, commercial casualty, property and other niche markets, while its reinsurance activities include treaty and facultative solutions for cedants and intermediaries.