TD Securities Boosts Intact Financial (TSE:IFC) Price Target to C$140.00

Intact Financial (TSE:IFC) had its price target hoisted by investment analysts at TD Securities from C$125.00 to C$140.00 in a report released on Friday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price target suggests a potential upside of 10.66% from the company’s current price.

Other research analysts also recently issued research reports about the company. UBS Group upped their price objective on Intact Financial from C$122.00 to C$133.00 in a research note on Tuesday, June 18th. National Bank Financial upgraded STEP Energy Services from a “sector perform overweight” rating to an “outperform overweight” rating in a research note on Wednesday, May 8th. Raymond James restated an “average” rating and issued a $4.50 price objective on shares of John Hancock Financial Opprts Fund in a research note on Thursday, May 9th. Royal Bank of Canada upped their price objective on Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the company a “sector perform” rating in a research note on Thursday, May 9th. Finally, Morgan Stanley upped their price objective on Intact Financial from C$125.00 to C$128.00 in a research note on Thursday, May 30th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of C$120.92.

TSE IFC traded up C$0.17 on Friday, reaching C$126.51. The company had a trading volume of 158,322 shares, compared to its average volume of 265,026. The stock has a market capitalization of $17.63 billion and a PE ratio of 24.46. The company has a quick ratio of 0.21, a current ratio of 0.28 and a debt-to-equity ratio of 32.96. The business has a fifty day moving average price of C$120.50. Intact Financial has a 52-week low of C$94.39 and a 52-week high of C$127.23.

Intact Financial (TSE:IFC) last announced its quarterly earnings data on Tuesday, May 7th. The company reported C$0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.57 by C$0.16. The business had revenue of C$2.66 billion during the quarter, compared to the consensus estimate of C$2.53 billion. Sell-side analysts predict that Intact Financial will post 8 earnings per share for the current fiscal year.

In other news, Senior Officer Joseph D’annunzio sold 1,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of C$118.61, for a total transaction of C$118,610.00. Following the completion of the transaction, the insider now owns 4,730 shares in the company, valued at approximately C$561,025.30.

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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