Fairfax Financial (TSE:FFH) Hits New 52-Week High on Analyst Upgrade

Key Points

• Fairfax Financial Holdings reached a new 52-week high of C$2,510.25 after an analyst upgrade from National Bankshares, which raised its price target from C$2,700.00 to C$3,000.00.
• The company has attracted positive attention from multiple analysts, with Scotiabank also increasing its price objective to C$2,900.00, reflecting a general consensus rating of “Buy”.
• Insider activity showed substantial selling, with Director F. Brian Bradstreet and Senior Officer Michael Anthony Wallace selling a combined 1,050 shares, indicating a decrease in insider ownership.

Fairfax Financial Holdings Limited (TSE:FFH - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday after National Bankshares raised their price target on the stock from C$2,700.00 to C$3,000.00. National Bankshares currently has an outperform rating on the stock. Fairfax Financial traded as high as C$2,510.25 and last traded at C$2,502.53, with a volume of 24717 shares trading hands. The stock had previously closed at C$2,467.86.

FFH has been the subject of several other research reports. Scotiabank increased their price objective on shares of Fairfax Financial from C$2,500.00 to C$2,900.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada upgraded shares of Fairfax Financial to a "moderate buy" rating and set a C$2,050.00 target price for the company in a report on Wednesday, June 18th. CIBC increased their target price on shares of Fairfax Financial from C$2,500.00 to C$2,700.00 in a report on Friday, May 2nd. Cormark increased their target price on shares of Fairfax Financial from C$2,250.00 to C$2,700.00 in a report on Monday, May 5th. Finally, Raymond James Financial increased their price target on shares of Fairfax Financial from C$2,600.00 to C$2,900.00 and gave the company an "outperform" rating in a research note on Monday, July 7th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, Fairfax Financial presently has an average rating of "Buy" and a consensus target price of C$2,721.43.

Insider Activity

In other Fairfax Financial news, Director F. Brian Bradstreet sold 700 shares of Fairfax Financial stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of C$2,503.00, for a total transaction of C$1,752,100.00. Also, Senior Officer Michael Anthony Wallace sold 350 shares of Fairfax Financial stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of C$2,279.88, for a total transaction of C$797,959.51. Following the completion of the transaction, the insider directly owned 236 shares in the company, valued at approximately C$538,052.69. The trade was a 59.73% decrease in their ownership of the stock. In the last three months, insiders bought 19 shares of company stock valued at $45,878 and sold 2,524 shares valued at $5,967,886. 3.76% of the stock is owned by insiders.

Fairfax Financial Trading Up 1.7%

The company has a market cap of C$40.25 billion, a P/E ratio of 9.61, a PEG ratio of 0.27 and a beta of 0.83. The stock's 50 day moving average is C$2,390.85 and its 200-day moving average is C$2,167.07.

Fairfax Financial Company Profile

Fairfax Financial is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.

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