Intact Financial (TSE:IFC) Price Target Raised to C$120.00

Intact Financial (TSE:IFC) had its price target hoisted by Royal Bank of Canada from C$115.00 to C$120.00 in a report released on Tuesday, April 9th, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 9.85% from the stock’s current price.

IFC has been the topic of several other reports. BMO Capital Markets lifted their target price on Intact Financial from C$118.00 to C$119.00 and gave the stock an “average” rating in a report on Thursday, February 7th. Keefe, Bruyette & Woods boosted their price target on Intact Financial from C$110.00 to C$112.00 in a report on Friday, February 8th. Raymond James boosted their price target on Intact Financial from C$113.00 to C$117.00 and gave the company an “outperform” rating in a report on Monday, February 4th. National Bank Financial boosted their price target on Intact Financial from C$106.00 to C$109.00 and gave the company a “sector perform” rating in a report on Wednesday, February 6th. Finally, CIBC boosted their price target on Intact Financial from C$115.00 to C$120.00 in a report on Thursday, February 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of C$115.00.

Shares of TSE IFC traded up C$0.50 during midday trading on Tuesday, hitting C$109.24. The stock had a trading volume of 210,200 shares, compared to its average volume of 252,763. Intact Financial has a fifty-two week low of C$91.65 and a fifty-two week high of C$114.13. The company has a debt-to-equity ratio of 28.28, a quick ratio of 0.24 and a current ratio of 0.31. The stock has a market capitalization of $15.21 billion and a P/E ratio of 22.80.

Intact Financial (TSE:IFC) last posted its quarterly earnings results on Tuesday, February 5th. The company reported C$1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.74 by C$0.19. The company had revenue of C$2.70 billion during the quarter, compared to the consensus estimate of C$2.53 billion. Equities research analysts forecast that Intact Financial will post 7.96999989920705 earnings per share for the current fiscal year.

In related news, Senior Officer Mark Alan Tullis sold 2,000 shares of Intact Financial stock in a transaction dated Friday, February 8th. The stock was sold at an average price of C$113.15, for a total value of C$226,300.00. Following the sale, the insider now owns 38,177 shares of the company’s stock, valued at C$4,319,727.55.

About Intact Financial

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada and the United States. It offers personal auto insurance; and insurance for motor homes, recreational vehicles, motorcycles, snowmobiles, and all-terrain vehicles.

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Analyst Recommendations for Intact Financial (TSE:IFC)

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