CIBC Increases IGM Financial (TSE:IGM) Price Target to C$45.00

IGM Financial (TSE:IGM) had its price target lifted by stock analysts at CIBC from C$42.00 to C$45.00 in a research report issued on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. CIBC’s price objective suggests a potential upside of 18.55% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of IGM Financial from C$44.00 to C$45.00 in a research note on Friday. Scotiabank lifted their price objective on shares of IGM Financial from C$44.00 to C$45.00 and gave the company a “sector perform” rating in a report on Tuesday. National Bankshares boosted their target price on shares of IGM Financial from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, TD Securities boosted their price target on shares of IGM Financial from C$41.00 to C$42.00 in a research report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$43.17.

IGM Financial Price Performance

Shares of IGM Financial stock traded up C$2.23 on Friday, hitting C$37.96. 475,412 shares of the company traded hands, compared to its average volume of 249,495. The business has a 50-day simple moving average of C$34.70 and a 200 day simple moving average of C$34.51. IGM Financial has a 52 week low of C$30.34 and a 52 week high of C$42.02. The stock has a market capitalization of C$9.04 billion, a P/E ratio of 9.78, a price-to-earnings-growth ratio of 4.24 and a beta of 1.58. The company has a debt-to-equity ratio of 38.26, a quick ratio of 0.31 and a current ratio of 1.94.

IGM Financial (TSE:IGM) last issued its earnings results on Thursday, February 15th. The financial services provider reported C$0.84 EPS for the quarter, missing analysts’ consensus estimates of C$0.89 by C($0.05). The company had revenue of C$768.80 million for the quarter, compared to analysts’ expectations of C$773.00 million. IGM Financial had a return on equity of 14.46% and a net margin of 31.03%. Research analysts expect that IGM Financial will post 3.711039 earnings per share for the current fiscal year.

IGM Financial Company Profile

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.