Intact Financial (TSE:IFC) Price Target Raised to C$215.00 at Scotiabank

Intact Financial (TSE:IFCGet Rating) had its target price boosted by research analysts at Scotiabank from C$210.00 to C$215.00 in a note issued to investors on Friday, BayStreet.CA reports. Scotiabank’s price objective would indicate a potential upside of 8.85% from the company’s current price.

Several other research firms have also issued reports on IFC. Royal Bank of Canada upped their price target on shares of Intact Financial from C$216.00 to C$219.00 and gave the stock an “outperform” rating in a research report on Friday, July 29th. Cormark dropped their price target on shares of Intact Financial from C$210.00 to C$200.00 in a research report on Tuesday, August 2nd. Raymond James upped their price target on shares of Intact Financial from C$206.00 to C$229.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, August 2nd. TD Securities upped their price target on shares of Intact Financial from C$215.00 to C$220.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Finally, Barclays dropped their price objective on shares of Intact Financial from C$212.00 to C$208.00 and set a “na” rating on the stock in a research report on Tuesday, July 26th. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$215.64.

Intact Financial Stock Down 0.6 %

IFC traded down C$1.28 during trading hours on Friday, hitting C$197.52. 166,485 shares of the company’s stock were exchanged, compared to its average volume of 389,465. Intact Financial has a 1-year low of C$158.00 and a 1-year high of C$205.40. The stock’s 50-day moving average is C$192.24 and its two-hundred day moving average is C$185.54. The stock has a market cap of C$34.63 billion and a price-to-earnings ratio of 13.64. The company has a quick ratio of 0.27, a current ratio of 0.44 and a debt-to-equity ratio of 30.85.

Intact Financial (TSE:IFCGet Rating) last announced its earnings results on Thursday, July 28th. The company reported C$7.29 EPS for the quarter, topping the consensus estimate of C$2.84 by C$4.45. The business had revenue of C$5.34 billion for the quarter. Sell-side analysts predict that Intact Financial will post 13.0600009 earnings per share for the current fiscal year.

Insider Activity

In other news, Senior Officer Louis Marcotte sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of C$194.91, for a total value of C$779,640.00. Following the sale, the insider now directly owns 26,155 shares in the company, valued at approximately C$5,097,871.05. In other news, Senior Officer Anne Fortin sold 350 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of C$191.39, for a total value of C$66,986.50. Following the sale, the insider now directly owns 8,936 shares in the company, valued at approximately C$1,710,261.04. Also, Senior Officer Louis Marcotte sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of C$194.91, for a total transaction of C$779,640.00. Following the completion of the transaction, the insider now owns 26,155 shares of the company’s stock, valued at approximately C$5,097,871.05.

About Intact Financial

(Get Rating)

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, Ireland, rest of Europe, and the Middle East. It offers personal auto insurance; insurance for motor homes, recreational vehicles, motorcycles, snowmobiles, and all-terrain vehicles; personal property insurance, such as protection for homes and contents from risks, including fire, theft, vandalism, water damage, and other damages, as well as personal liability coverage; and property coverage for tenants, condominium owners, non-owner occupied residences, and seasonal residences.

See Also

Analyst Recommendations for Intact Financial (TSE:IFC)

Receive News & Ratings for Intact Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intact Financial and related companies with MarketBeat.com's FREE daily email newsletter.