IGM Financial (TSE:IGM) Price Target Raised to C$56.00 at TD Securities

IGM Financial (TSE:IGM) had its price target lifted by investment analysts at TD Securities from C$51.00 to C$56.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Securities’ price target suggests a potential upside of 25.14% from the company’s previous close.

Other equities analysts have also issued reports about the company. BMO Capital Markets lifted their price objective on IGM Financial from C$47.00 to C$48.00 in a research note on Monday. Scotiabank boosted their price target on shares of IGM Financial from C$53.00 to C$56.00 in a research report on Friday, November 8th. Jefferies Financial Group increased their price objective on shares of IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. CIBC boosted their target price on shares of IGM Financial from C$47.00 to C$50.00 in a report on Friday, November 8th. Finally, National Bankshares boosted their price objective on IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, IGM Financial presently has an average rating of “Moderate Buy” and an average target price of C$50.29.

IGM Financial Price Performance

Shares of IGM stock traded up C$0.35 on Monday, reaching C$44.75. The company had a trading volume of 115,121 shares, compared to its average volume of 315,068. IGM Financial has a one year low of C$32.95 and a one year high of C$47.96. The company has a quick ratio of 0.31, a current ratio of 2.12 and a debt-to-equity ratio of 35.99. The stock has a market capitalization of C$10.59 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. The business’s 50-day moving average is C$45.94 and its 200 day moving average is C$42.68.

IGM Financial (TSE:IGM) last announced its quarterly earnings results on Thursday, November 7th. The financial services provider reported C$1.01 EPS for the quarter, missing analysts’ consensus estimates of C$1.03 by C($0.02). IGM Financial had a net margin of 29.47% and a return on equity of 12.80%. During the same period last year, the business earned $0.89 EPS. Equities research analysts forecast that IGM Financial will post 4.006816 EPS 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.