Intact Financial (TSE:IFC) Stock Gets Price Target Reduction from Raymond James Financial

Key Points

• Raymond James cut Intact Financial’s price target to C$305 from C$335 while maintaining an “outperform” rating, implying approximately 20.83% upside from the prior close.
• Analyst sentiment remains positive overall: nine analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average target of C$323.08.
• Intact Financial shares closed at C$252.42, near the lower end of their 52-week range, while the company reported quarterly EPS of C$4.33 and revenue of C$5.94 billion.

Intact Financial (TSE:IFC - Get Free Report) had its target price reduced by research analysts at Raymond James Financial from C$335.00 to C$305.00 in a report released on Friday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. Raymond James Financial's price target suggests a potential upside of 20.83% from the company's previous close.

Several other research firms have also commented on IFC. Scotiabank decreased their price objective on shares of Intact Financial from C$330.00 to C$325.00 and set a "sector outperform" rating on the stock in a research report on Thursday, July 30th. Canadian Imperial Bank of Commerce decreased their price target on Intact Financial from C$314.00 to C$311.00 in a research note on Thursday, July 30th. Scotia lowered their price objective on shares of Intact Financial from C$325.00 to C$315.00 and set a "sector outperform" rating for the company in a research note on Wednesday, October 7th. RBC Dominion Securities cut their price objective on Intact Financial from C$308.00 to C$285.00 and set a "sector perform" rating on the stock in a research report on Thursday. Finally, Jefferies Financial Group raised their price target on shares of Intact Financial from C$343.00 to C$351.00 and gave the company a "buy" rating in a report on Monday, July 27th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$323.08.

Intact Financial Stock Performance

Shares of TSE:IFC traded up C$0.49 during trading on Friday, reaching C$252.42. The company had a trading volume of 130,454 shares, compared to its average volume of 468,844. The firm has a market capitalization of C$44.51 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 2.01 and a beta of 0.45. The company has a debt-to-equity ratio of 23.22, a current ratio of 7.21 and a quick ratio of 0.28. 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 fifty day moving average price is C$258.51 and its 200 day moving average price is C$268.18.

Intact Financial (TSE:IFC - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported C$4.33 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%. As a group, equities research analysts predict that Intact Financial will post 16.17 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.