Intact Financial (TSE:IFC) Price Target Cut to C$303.00 by Analysts at TD

Intact Financial (TSE:IFC) had its price target lowered by equities researchers at TD from C$345.00 to C$303.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. TD’s price objective suggests a potential upside of 23.92% from the stock’s current price.

Several other analysts have also weighed in on IFC. Canadian Imperial Bank of Commerce lowered their price objective on Intact Financial from C$314.00 to C$311.00 in a report on Thursday, July 30th. Barclays cut their price objective on Intact Financial from C$352.00 to C$344.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 29th. Scotiabank reduced their target price on Intact Financial from C$330.00 to C$325.00 and set a “sector outperform” rating on the stock in a report on Thursday, July 30th. Jefferies Financial Group increased their target price 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. Finally, National Bank Financial lifted their target price on Intact Financial from C$372.00 to C$379.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$326.25.

Intact Financial Stock Down 0.3%

TSE IFC traded down C$0.80 during trading hours on Wednesday, reaching C$244.51. 105,892 shares of the company traded hands, compared to its average volume of 468,829. The company has a 50 day moving average of C$259.84 and a two-hundred day moving average of C$268.18. The stock has a market capitalization of C$43.12 billion, a PE ratio of 13.60, a PEG ratio of 2.01 and a beta of 0.45. Intact Financial has a 12 month low of C$236.92 and a 12 month high of C$305.52. 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 (TSE:IFC) last issued its earnings results on Tuesday, July 28th. The company reported C$4.33 earnings per share (EPS) for the quarter. Intact Financial had a net margin of 12.04% and a return on equity of 15.73%. The business had revenue of C$5.94 billion for the quarter. As a group, equities analysts expect that Intact Financial will post 16.17 earnings per share for the current 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.