Intact Financial (TSE:IFC) Given a C$310.00 Price Target at Desjardins

Key Points

• Desjardins maintained a “buy” rating on Intact Financial and set a C$310 price target, implying 18.15% upside from the previous close.
• Analyst sentiment remains favorable, with nine Buy ratings and two Holds; MarketBeat reports a consensus “Moderate Buy” rating and average target of C$323.85.
• Intact Financial shares traded at C$262.38, while the company’s latest quarter included C$4.33 EPS, C$5.94 billion in revenue, a 12.04% net margin, and a 15.73% return on equity.

Intact Financial (TSE:IFC - Get Free Report) received a C$310.00 price objective from research analysts at Desjardins in a research note issued to investors on Thursday, BayStreet reports. The brokerage presently has a "buy" rating on the stock. Desjardins's price objective indicates a potential upside of 18.15% from the stock's previous close.

A number of other equities analysts have also recently weighed in on IFC. Jefferies Financial Group boosted their price target on Intact Financial from C$343.00 to C$351.00 and gave the stock a "buy" rating in a report on Monday, July 27th. RBC Dominion Securities dropped their price objective on shares of Intact Financial from C$308.00 to C$285.00 and set a "sector perform" rating on the stock in a report on Thursday, October 15th. TD reduced their price target on Intact Financial from C$345.00 to C$303.00 and set a "buy" rating for the company in a research report on Wednesday, October 14th. Canadian Imperial Bank of Commerce lowered their price objective on shares of Intact Financial from C$314.00 to C$311.00 in a research note on Thursday, July 30th. Finally, Raymond James Financial lowered their price objective on shares of Intact Financial from C$335.00 to C$305.00 and set an "outperform" rating on the stock in a research note on Friday, October 16th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$323.85.

Intact Financial Price Performance

Intact Financial stock traded up C$0.88 during midday trading on Thursday, reaching C$262.38. The company's stock had a trading volume of 116,905 shares, compared to its average volume of 464,011. The firm has a market capitalization of C$46.27 billion, a PE ratio of 14.59, a P/E/G ratio of 2.01 and a beta of 0.45. Intact Financial has a fifty-two week low of C$236.92 and a fifty-two week high of C$305.52. The stock's 50 day simple moving average is C$256.72 and its 200 day simple moving average is C$265.25. The company has a debt-to-equity ratio of 23.22, a quick ratio of 0.28 and a current ratio of 7.21.

Intact Financial (TSE:IFC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported C$4.33 earnings per share (EPS) for the quarter. The company had revenue of C$5.94 billion during the quarter. Intact Financial had a net margin of 12.04% and a return on equity of 15.73%. On average, equities research analysts forecast that Intact Financial will post 16.17 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.

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