Barclays Has Lowered Expectations for Intact Financial (TSE:IFC) Stock Price

Key Points

• Barclays cut its price target for Intact Financial from C$352 to C$344 while maintaining an “overweight” rating, implying roughly 19.4% upside from the reported price.
• Analyst sentiment remains positive overall: eight analysts rate the stock a Buy and two rate it Hold, producing a “Moderate Buy” consensus and an average target of C$329.91.
• Intact Financial shares fell 5.5% to C$288.09, despite reporting quarterly EPS of C$4.33 and revenue of C$5.94 billion; the stock remains within its C$242.87–C$310.84 52-week range.

Intact Financial (TSE:IFC - Get Free Report) had its price target reduced by investment analysts at Barclays from C$352.00 to C$344.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an "overweight" rating on the stock. Barclays's price target would suggest a potential upside of 19.41% from the company's current price.

Several other equities research analysts have also recently issued reports on IFC. Royal Bank Of Canada raised their price objective on shares of Intact Financial from C$289.00 to C$299.00 and gave the stock a "sector perform" rating in a research report on Monday, July 13th. Desjardins dropped their price target on shares of Intact Financial from C$305.00 to C$300.00 and set a "buy" rating for the company in a research note on Monday, April 27th. Canadian Imperial Bank of Commerce raised their price target on shares of Intact Financial from C$288.00 to C$314.00 in a report on Friday, July 10th. TD reduced their price target on shares of Intact Financial from C$347.00 to C$345.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, National Bank Financial upped their price target on Intact Financial from C$372.00 to C$379.00 and gave the company an "outperform" rating in a research note on Monday. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$329.91.

Intact Financial Trading Down 5.5%

TSE IFC traded down C$16.91 on Wednesday, reaching C$288.09. 449,147 shares of the company were exchanged, compared to its average volume of 457,991. The company has a current ratio of 1.69, a quick ratio of 0.28 and a debt-to-equity ratio of 23.33. The business's fifty day moving average price is C$285.32 and its 200 day moving average price is C$267.49. The stock has a market capitalization of C$50.93 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 2.01 and a beta of 0.29. Intact Financial has a fifty-two week low of C$242.87 and a fifty-two week high of C$310.84.

Intact Financial (TSE:IFC - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported C$4.33 earnings per share (EPS) for the quarter. Intact Financial had a return on equity of 16.93% and a net margin of 12.76%.The business had revenue of C$5.94 billion during the quarter. Analysts forecast that Intact Financial will post 16.1721014 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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