Intact Financial (TSE:IFC) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Intact Financial Co. (TSE:IFC)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$265.85 and traded as high as C$298.24. Intact Financial shares last traded at C$297.02, with a volume of 321,970 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IFC. National Bank Financial raised their price target on shares of Intact Financial from C$364.00 to C$372.00 in a report on Wednesday, April 29th. Raymond James Financial dropped their price objective on shares of Intact Financial from C$310.00 to C$305.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Royal Bank Of Canada cut their target price on Intact Financial from C$304.00 to C$289.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 7th. TD lowered their price target on 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. Finally, Barclays boosted their price target on Intact Financial from C$322.00 to C$327.00 in a research note 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 given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$322.18.

Intact Financial Stock Up 1.5%

The company has a market capitalization of C$52.51 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 2.01 and a beta of 0.32. The business’s 50-day moving average is C$271.28 and its 200-day moving average is C$265.85. The company has a quick ratio of 0.28, a current ratio of 1.69 and a debt-to-equity ratio of 23.33.

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

About Intact Financial

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.