Intact Financial (TSE:IFC) Stock Price Target Lowered at RBC Dominion Securities

Key Points

• RBC Dominion Securities lowered Intact Financial’s price target to C$285 from C$308 while maintaining a “sector perform” rating, implying 13.34% upside from the prior close.
• Analyst sentiment remains positive overall, with nine Buy ratings and three Holds; MarketBeat reports a consensus “Moderate Buy” rating and an average target price of C$323.08.
• Intact Financial shares rose C$7.16 to C$251.45 in Thursday trading. The insurer reported quarterly revenue of C$5.94 billion and earnings of C$4.33 per share in its latest results.

Intact Financial (TSE:IFC - Get Free Report) had its price objective cut by analysts at RBC Dominion Securities from C$308.00 to C$285.00 in a report released on Thursday, BayStreet reports. The firm presently has a "sector perform" rating on the stock. RBC Dominion Securities' price objective would suggest a potential upside of 13.34% from the company's previous close.

A number of other research firms have also recently commented on IFC. Scotiabank cut their price target 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 note on Thursday, July 30th. 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 report on Thursday, July 30th. Royal Bank Of Canada raised their price objective on shares of Intact Financial from C$299.00 to C$308.00 and gave the company a "sector perform" rating 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 stock a "buy" rating in a report on Monday, July 27th. Finally, Scotia cut their target price 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 report on Wednesday, October 7th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Intact Financial has a consensus rating of "Moderate Buy" and an average target price of C$323.08.

Intact Financial Price Performance

Shares of TSE IFC traded up C$7.16 during midday trading on Thursday, hitting C$251.45. 204,894 shares of the company's stock were exchanged, compared to its average volume of 468,736. Intact Financial has a 12-month low of C$236.92 and a 12-month high of C$305.52. The company has a current ratio of 7.21, a quick ratio of 0.28 and a debt-to-equity ratio of 23.22. The company has a market cap of C$44.34 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 2.01 and a beta of 0.45. The business's fifty day moving average price is C$259.07 and its two-hundred day moving average price is C$268.14.

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