Definity Financial (TSE:DFY) Given New C$85.00 Price Target at Raymond James Financial

Key Points

• Raymond James raised Definity Financial’s price target to C$85 from C$80 while maintaining a “market perform” rating, implying 6.88% upside from the prior close.
• Analyst sentiment is broadly positive, with four “buy” and four “hold” ratings; the stock has a “moderate buy” consensus and an average target of C$83.40.
• Definity shares rose 1.3% to C$79.53, near their 52-week high, after the company reported quarterly EPS of C$0.97 and revenue of C$2.05 billion.

Definity Financial (TSE:DFY - Get Free Report) had its price objective upped by stock analysts at Raymond James Financial from C$80.00 to C$85.00 in a report released on Friday,BayStreet.CA reports. The firm presently has a "market perform" rating on the stock. Raymond James Financial's price target would suggest a potential upside of 6.88% from the stock's previous close.

Other equities research analysts also recently issued reports about the company. Desjardins reduced their price objective on Definity Financial from C$75.00 to C$73.00 and set a "hold" rating for the company in a research note on Monday, April 27th. National Bank Financial upped their target price on Definity Financial from C$94.00 to C$96.00 and gave the company an "outperform" rating in a report on Monday. Canadian Imperial Bank of Commerce increased their price target on shares of Definity Financial from C$74.00 to C$84.00 in a research report on Tuesday, July 14th. Jefferies Financial Group raised their price target on shares of Definity Financial from C$83.00 to C$91.00 and gave the stock a "buy" rating in a report on Monday. Finally, TD boosted their price objective on shares of Definity Financial from C$89.00 to C$93.00 and gave the company a "buy" rating in a research report on Friday. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$83.40.

Definity Financial Stock Up 1.3%

TSE:DFY traded up C$1.02 during trading hours on Friday, hitting C$79.53. 209,804 shares of the stock traded hands, compared to its average volume of 179,424. The firm has a 50 day moving average price of C$73.78 and a 200 day moving average price of C$69.79. The company has a current ratio of 1.25, a quick ratio of 0.31 and a debt-to-equity ratio of 43.41. Definity Financial has a fifty-two week low of C$61.87 and a fifty-two week high of C$81.99. The firm has a market cap of C$9.56 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 2.63 and a beta of -0.05.

Definity Financial (TSE:DFY - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported C$0.97 EPS for the quarter. Definity Financial had a return on equity of 9.82% and a net margin of 6.94%.The business had revenue of C$2.05 billion during the quarter. Equities research analysts anticipate that Definity Financial will post 3.1263962 earnings per share for the current year.

Insiders Place Their Bets

In other Definity Financial news, insider Brigid V. Pelino sold 5,000 shares of Definity Financial stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of C$72.00, for a total value of C$360,000.00. Following the completion of the sale, the insider directly owned 74,109 shares in the company, valued at C$5,335,848. The trade was a 6.32% decrease in their ownership of the stock. Insiders own 0.50% of the company's stock.

Definity Financial Company Profile

Definity Financial Corp is a multi-channel, property, and casualty insurance company. It offers auto, property, liability, and pet insurance products to individual customers.

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