Intact Financial (TSE:IFC) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Intact Financial Co. (TSE:IFC) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$265.17 and traded as high as C$279.44. Intact Financial shares last traded at C$277.64, with a volume of 421,808 shares traded.

Analysts Set New Price Targets

IFC has been the subject of several research reports. Jefferies Financial Group increased their price objective on shares of Intact Financial from C$306.00 to C$324.00 in a research report on Monday, May 4th. Desjardins lowered their price objective on shares of Intact Financial from C$305.00 to C$300.00 and set a “buy” rating for the company in a research report on Monday, April 27th. National Bank Financial increased their price objective on shares of Intact Financial from C$364.00 to C$372.00 in a research report on Wednesday, April 29th. Barclays increased their price objective on shares of Intact Financial from C$322.00 to C$327.00 in a research report on Wednesday, May 6th. Finally, TD lowered their price objective on shares of Intact Financial from C$354.00 to C$347.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Intact Financial currently has a consensus rating of “Moderate Buy” and an average price target of C$322.18.

Intact Financial Trading Up 1.6%

The firm has a market cap of C$49.08 billion, a P/E ratio of 14.78, a P/E/G ratio of 2.01 and a beta of 0.32. The business’s 50-day moving average is C$263.62 and its two-hundred day moving average is C$265.17. The company has a debt-to-equity ratio of 23.33, a current ratio of 1.69 and a quick ratio of 0.28.

Intact Financial (TSE:IFC) last released its earnings results on Tuesday, May 5th. The company reported C$4.61 earnings per share for the quarter. The business had revenue of C$5.83 billion during the quarter. Intact Financial had a net margin of 12.76% and a return on equity of 16.93%. As a group, analysts predict that Intact Financial Co. will post 16.1721014 earnings per share for the current fiscal year.

Intact Financial Company Profile

Intact Financial Corp is a property and casualty insurance company that provides written premiums in Canada. The company distributes insurance under the Intact Insurance brand through a network of brokers and a wholly-owned subsidiary, BrokerLink, and directly to consumers through Belairdirect. Most of the company’s direct premiums are written in the personal automotive space. Intact directly manages its investments through subsidiary Intact Investment Management. The vast majority of these invested assets are fixed-income securities.