Intact Financial (TSE:IFC) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Intact Financial (TSE:IFC) had its price target raised by investment analysts at Raymond James Financial from C$303.00 to C$309.00 in a research note issued on Wednesday, BayStreet reports. The firm presently has a “buy” rating on the stock. Raymond James Financial‘s price objective suggests a potential upside of 9.66% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Barclays reduced their price objective on shares of Intact Financial from C$352.00 to C$344.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 29th. Jefferies Financial Group raised their target price on shares of Intact Financial from C$343.00 to C$351.00 and gave the company a “buy” rating in a research note on Monday, July 27th. TD lifted their price target on shares of Intact Financial from C$303.00 to C$309.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank Of Canada boosted their price target on shares of Intact Financial from C$299.00 to C$308.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Finally, Scotia dropped their price objective on shares of Intact Financial from C$325.00 to C$315.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 7th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Intact Financial has an average rating of “Moderate Buy” and a consensus target price of C$324.62.

Intact Financial Price Performance

IFC traded up C$19.04 on Wednesday, hitting C$281.77. 303,702 shares of the company’s stock traded hands, compared to its average volume of 463,685. The company’s 50 day simple moving average is C$256.54 and its 200-day simple moving average is C$265.02. The firm has a market cap of C$49.69 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 2.01 and a beta of 0.45. Intact Financial has a one year low of C$236.92 and a one year 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.

About Intact Financial

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.