Intact Financial (TSE:IFC) Price Target Cut to C$303.00 by Analysts at TD

Key Points

• TD cut Intact Financial’s price target from C$345 to C$303 but maintained a “buy” rating, implying approximately 23.9% upside from the current price.
• Analyst sentiment remains positive overall: nine analysts rate the stock Buy and two rate it Hold, resulting in a consensus “Moderate Buy” rating and a C$326.25 average target.
• Shares fell 0.3% to C$244.51 during Wednesday trading. Intact Financial reported quarterly EPS of C$4.33 on C$5.94 billion in revenue, with a 15.73% return on equity and 12.04% net margin.

Intact Financial (TSE:IFC - Get Free Report) had its price target decreased by stock analysts at TD from C$345.00 to C$303.00 in a note issued to investors on Wednesday, BayStreet reports. The firm currently has a "buy" rating on the stock. TD's price target indicates a potential upside of 23.92% from the company's current price.

Several other equities analysts have also commented on IFC. Barclays reduced their price target on Intact Financial from C$352.00 to C$344.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 29th. Scotiabank lowered their price objective on shares of Intact Financial from C$330.00 to C$325.00 and set a "sector outperform" rating for the company in a research report on Thursday, July 30th. Jefferies Financial Group lifted their price objective on shares of Intact Financial from C$343.00 to C$351.00 and gave the company a "buy" rating in a research note on Monday, July 27th. National Bank Financial boosted their target price on shares of Intact Financial from C$372.00 to C$379.00 and gave the stock an "outperform" rating in a research report on Monday, July 27th. Finally, Scotia reduced their target price on shares of Intact Financial from C$325.00 to C$315.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, October 7th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Intact Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of C$326.25.

Intact Financial Trading Down 0.3%

Shares of IFC traded down C$0.80 during trading hours on Wednesday, hitting C$244.51. The stock had a trading volume of 105,892 shares, compared to its average volume of 468,829. Intact Financial has a 12-month low of C$236.92 and a 12-month high of C$305.52. The firm has a market cap of C$43.12 billion, a P/E ratio of 13.60, a P/E/G ratio of 2.01 and a beta of 0.45. The company has a debt-to-equity ratio of 23.22, a quick ratio of 0.28 and a current ratio of 7.21. The company's fifty day simple moving average is C$259.84 and its 200 day simple moving average is C$268.18.

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

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