Raymond James Lowers Intact Financial (TSE:IFC) Price Target to C$264.00

Intact Financial (TSE:IFC) had its target price dropped by equities researchers at Raymond James from C$269.00 to C$264.00 in a report released on Thursday, BayStreet.CA reports.

Several other brokerages have also weighed in on IFC. BMO Capital Markets upped their target price on shares of Intact Financial from C$250.00 to C$275.00 in a research report on Thursday, August 1st. CIBC upped their price target on shares of Intact Financial from C$250.00 to C$270.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Jefferies Financial Group reduced their price target on shares of Intact Financial from C$264.00 to C$262.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. Desjardins upped their price target on shares of Intact Financial from C$250.00 to C$255.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Cormark upped their price objective on shares of Intact Financial from C$250.00 to C$260.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$263.90.

Intact Financial Trading Up 2.1 %

Shares of Intact Financial stock opened at C$264.00 on Thursday. Intact Financial has a 52-week low of C$188.27 and a 52-week high of C$265.10. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 31.26. The company’s 50-day simple moving average is C$253.34 and its 200-day simple moving average is C$236.85. The firm has a market cap of C$47.09 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.

Intact Financial (TSE:IFC) last issued its earnings results on Tuesday, July 30th. The company reported C$4.86 earnings per share for the quarter, topping the consensus estimate of C$3.61 by C$1.25. Intact Financial had a net margin of 7.14% and a return on equity of 12.93%. The company had revenue of C$7.07 billion for the quarter, compared to analyst estimates of C$7.64 billion. As a group, equities research analysts anticipate that Intact Financial will post 15.774665 earnings per share for the current year.

Insider Buying and Selling

In other news, Senior Officer Kenneth Anderson sold 2,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$253.88, for a total value of C$507,759.00. 0.24% of the stock is currently owned by insiders.

About Intact Financial

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally. The company offers insurance, such as personal auto which provides coverage from accidents, third party liability, and physical damage; personal property which provides protection for homes and contents from risks, including fire, theft, vandalism, water damages, other damages, and personal liability; and commercial line and specialty line insurance which provides commercial auto, property, and liability coverages.