Intact Financial (TSE:IFC) Stock Price Target Cut by Raymond James Financial

Intact Financial (TSE:IFC) had its target price lowered by analysts at Raymond James Financial from C$335.00 to C$305.00 in a research note issued on Friday, BayStreet reports. The firm currently has an “outperform” rating on the stock. Raymond James Financial’s target price suggests a potential upside of 20.83% from the stock’s current price.

IFC has been the subject of several other reports. Scotia reduced their price objective on Intact Financial from C$325.00 to C$315.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 7th. Jefferies Financial Group increased their price objective on Intact Financial from C$343.00 to C$351.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Canadian Imperial Bank of Commerce lowered their target price on Intact Financial from C$314.00 to C$311.00 in a research report on Thursday, July 30th. Barclays lowered 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 report on Wednesday, July 29th. Finally, National Bank Financial lifted their target price on Intact Financial from C$372.00 to C$379.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$323.08.

Intact Financial Stock Performance

Intact Financial stock traded up C$0.49 during mid-day trading on Friday, reaching C$252.42. The company’s stock had a trading volume of 130,454 shares, compared to its average volume of 468,844. 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 twelve month low of C$236.92 and a twelve month high of C$305.52. The business has a 50 day moving average price of C$258.51 and a 200-day moving average price of C$268.18. The firm has a market cap of C$44.51 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 2.01 and a beta of 0.45.

Intact Financial (TSE:IFC) last issued its earnings results on Tuesday, July 28th. The company reported C$4.33 EPS for the quarter. The company had revenue of C$5.94 billion during the quarter. Intact Financial had a return on equity of 15.73% and a net margin of 12.04%. Sell-side analysts predict that Intact Financial will post 16.17 EPS for the current fiscal year.

Intact Financial Company Profile

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.