Cormark Raises Intact Financial (TSE:IFC) Price Target to C$260.00

Intact Financial (TSE:IFC) had its target price upped by equities researchers at Cormark from C$250.00 to C$260.00 in a report issued on Thursday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Cormark’s target price would suggest a potential upside of 3.63% from the stock’s current price.

Several other analysts also recently commented on the stock. Jefferies Financial Group lowered their target price on shares of Intact Financial from C$242.00 to C$241.00 in a report on Monday, July 22nd. Raymond James lifted their target price on shares of Intact Financial from C$261.00 to C$269.00 and gave the stock an “outperform” rating in a research report on Wednesday. BMO Capital Markets upped their target price on Intact Financial from C$240.00 to C$250.00 in a report on Thursday, May 9th. Royal Bank of Canada lifted their price target on Intact Financial from C$226.00 to C$243.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 8th. Finally, Desjardins upped their price objective on Intact Financial from C$250.00 to C$255.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$254.00.

Intact Financial Stock Performance

TSE:IFC opened at C$250.90 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 32.83. Intact Financial has a twelve month low of C$188.22 and a twelve month high of C$263.74. The company has a fifty day moving average of C$231.56 and a 200-day moving average of C$224.65. The firm has a market capitalization of C$44.74 billion, a P/E ratio of 29.14, a P/E/G ratio of 2.01 and a beta of 0.53.

Intact Financial (TSE:IFC) last issued its earnings results on Tuesday, May 7th. The company reported C$3.63 EPS for the quarter, beating analysts’ consensus estimates of C$3.43 by C$0.20. The business had revenue of C$7.06 billion during the quarter, compared to analyst estimates of C$8.33 billion. Intact Financial had a return on equity of 10.00% and a net margin of 5.55%. As a group, sell-side analysts anticipate that Intact Financial will post 14.6728435 EPS for the current year.

Insiders Place Their Bets

In related news, Senior Officer Louis Gagnon sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of C$223.08, for a total transaction of C$2,230,768.00. In other Intact Financial news, Senior Officer Louis Marcotte sold 300 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of C$228.61, for a total transaction of C$68,583.00. Also, Senior Officer Louis Gagnon sold 10,000 shares of Intact Financial stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of C$223.08, for a total value of C$2,230,768.00. Over the last ninety days, insiders have sold 32,500 shares of company stock valued at $7,377,706. 0.23% of the stock is currently owned by corporate insiders.

About Intact Financial

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally. The company offers insurance, such as personal auto which provides coverage from accidents, third party liability, and physical damage; personal property which provides protection for homes and contents from risks, including fire, theft, vandalism, water damages, other damages, and personal liability; and commercial line and specialty line insurance which provides commercial auto, property, and liability coverages.