TD Securities Boosts Definity Financial (TSE:DFY) Price Target to C$55.00

Definity Financial (TSE:DFY) had its price target upped by investment analysts at TD Securities from C$52.00 to C$55.00 in a research note issued to investors on Friday, BayStreet.CA reports. TD Securities’ target price suggests a potential upside of 7.86% from the company’s current price.

A number of other research analysts also recently issued reports on DFY. CIBC downgraded Definity Financial from an “outperform” rating to a “neutral” rating and boosted their price target for the company from C$47.00 to C$51.00 in a report on Tuesday, August 6th. Cibc World Mkts downgraded Definity Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Desjardins boosted their price target on Definity Financial from C$47.00 to C$52.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. Cormark boosted their price target on Definity Financial from C$49.00 to C$51.00 in a report on Friday, July 26th. Finally, Raymond James upped their target price on Definity Financial from C$52.50 to C$55.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$53.10.

Definity Financial Stock Performance

TSE DFY traded up C$1.15 during trading hours on Friday, reaching C$50.99. The stock had a trading volume of 83,810 shares, compared to its average volume of 96,647. The stock has a fifty day moving average of C$48.61 and a 200 day moving average of C$45.91. The stock has a market cap of C$5.86 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 2.63 and a beta of 0.01. Definity Financial has a 52-week low of C$35.48 and a 52-week high of C$51.18. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68.

Definity Financial (TSE:DFY) last issued its earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, beating analysts’ consensus estimates of C$0.66 by C$0.28. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. The firm had revenue of C$1.05 billion for the quarter, compared to analyst estimates of C$1.07 billion. Sell-side analysts predict that Definity Financial will post 3.1395647 earnings per share for the current year.

Definity Financial Company Profile

Definity Financial Corporation, together with its subsidiaries, offers property and casualty insurance products in Canada. It provides personal insurance products, including auto, property, general and umbrella liability, and pet insurance products to individuals under the Economical, Sonnet, Family, Petsecure, and Peppermint brands; and commercial insurance products, which include fleet, commercial auto, property, liability, and specialty insurance products to businesses under the Definity Insurance and Economical brand name.