Intact Financial (TSE:IFC) Price Target Raised to C$238.00

Intact Financial (TSE:IFC - Get Free Report) had its price objective increased by Desjardins from C$235.00 to C$238.00 in a report released on Tuesday, BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' price objective would indicate a potential upside of 7.34% from the company's current price. Desjardins also issued estimates for Intact Financial's Q1 2024 earnings at $3.50 EPS and FY2024 earnings at $14.65 EPS.

A number of other research analysts have also recently issued reports on IFC. TD Securities lifted their price objective on Intact Financial from C$225.00 to C$235.00 and gave the company a "buy" rating in a research note on Wednesday, February 14th. Royal Bank of Canada lifted their target price on shares of Intact Financial from C$228.00 to C$229.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 14th. Raymond James boosted their price objective on shares of Intact Financial from C$221.00 to C$247.00 in a report on Wednesday, February 14th. CIBC boosted their price target on Intact Financial from C$225.00 to C$250.00 and gave the stock an "outperform" rating in a research note on Thursday, February 15th. Finally, BMO Capital Markets increased their price objective on Intact Financial from C$230.00 to C$240.00 and gave the company an "outperform" rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$236.70.

View Our Latest Analysis on IFC

Intact Financial Trading Up 0.8 %

TSE IFC traded up C$1.72 during trading on Tuesday, hitting C$221.73. The company had a trading volume of 76,427 shares, compared to its average volume of 304,134. The company's fifty day moving average is C$222.37 and its 200-day moving average is C$210.33. Intact Financial has a one year low of C$188.22 and a one year high of C$237.25. The company has a current ratio of 0.38, a quick ratio of 0.28 and a debt-to-equity ratio of 34.90. The company has a market cap of C$39.54 billion, a price-to-earnings ratio of 31.72, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54.

Intact Financial (TSE:IFC - Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The company reported C$3.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$3.44 by C$0.03. The company had revenue of C$6.53 billion during the quarter. Intact Financial had a net margin of 4.59% and a return on equity of 8.16%. On average, sell-side analysts predict that Intact Financial will post 14.4651774 earnings per share for the current year.

Insider Buying and Selling

In other Intact Financial news, Senior Officer Benoit Morissette sold 7,000 shares of Intact Financial stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of C$226.23, for a total transaction of C$1,583,589.00. 0.23% of the stock is currently owned by insiders.

Intact Financial Company Profile

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.

Recommended Stories

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider Intact Financial, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Intact Financial wasn't on the list.

While Intact Financial currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.

Get This Free Report