Raymond James Forecasts Strong Price Appreciation for Intact Financial (TSE:IFC) Stock

Intact Financial (TSE:IFC) had its price target hoisted by investment analysts at Raymond James from C$264.00 to C$290.00 in a report issued on Wednesday, BayStreet.CA reports. Raymond James’ target price suggests a potential upside of 11.25% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group decreased their target price on Intact Financial from C$264.00 to C$262.00 and set a “hold” rating for the company in a report on Thursday, August 22nd. Desjardins lifted their price objective on Intact Financial from C$250.00 to C$255.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Cormark increased their price objective on shares of Intact Financial from C$250.00 to C$260.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. TD Securities boosted their target price on shares of Intact Financial from C$293.00 to C$300.00 in a research report on Wednesday. Finally, Scotiabank reduced their price target on shares of Intact Financial from C$272.00 to C$263.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intact Financial currently has an average rating of “Moderate Buy” and an average target price of C$271.40.

Intact Financial Trading Down 4.1 %

IFC traded down C$11.14 during midday trading on Wednesday, hitting C$260.67. The company’s stock had a trading volume of 227,482 shares, compared to its average volume of 286,172. The firm has a 50-day moving average price of C$259.65 and a two-hundred day moving average price of C$243.02. The company has a current ratio of 0.36, a quick ratio of 0.28 and a debt-to-equity ratio of 31.26. Intact Financial has a 52-week low of C$196.27 and a 52-week high of C$273.05. The firm has a market cap of C$46.49 billion, a P/E ratio of 22.95, a PEG ratio of 2.01 and a beta of 0.57.

Insider Activity at Intact Financial

In other Intact Financial news, Senior Officer Kenneth Anderson sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of C$253.88, for a total value of C$507,759.00. 0.24% of the stock is currently owned by corporate insiders.

About Intact Financial

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.