IGM Financial (TSE:IGM) Price Target Raised to C$56.00

Key Points

• National Bankshares has raised its price target for IGM Financial from C$54.00 to C$56.00, indicating a potential upside of 21.08% based on the current stock price.
• The stock is currently rated as a "hold" by several analysts, with different price targets ranging from C$42.00 to C$56.00.
• As of the latest trading session, shares of IGM Financial fell by 0.8%, closing at C$46.25, with trading volume significantly below average.

IGM Financial (TSE:IGM - Get Free Report) had its price target upped by equities researchers at National Bankshares from C$54.00 to C$56.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the financial services provider's stock. National Bankshares' price target indicates a potential upside of 24.64% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. Royal Bank Of Canada upgraded IGM Financial to a "hold" rating and set a C$46.00 price objective for the company in a research note on Wednesday, June 18th. BMO Capital Markets decreased their price target on shares of IGM Financial from C$47.00 to C$46.00 in a research report on Monday, May 12th. Scotiabank raised their price target on shares of IGM Financial from C$49.00 to C$51.00 in a report on Friday, May 9th. Finally, Jefferies Financial Group cut their price objective on shares of IGM Financial from C$47.00 to C$42.00 in a research report on Monday, April 21st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of C$50.14.

IGM Financial Stock Down 2.1%

IGM Financial stock traded down C$0.95 during mid-day trading on Tuesday, reaching C$44.93. 179,645 shares of the company were exchanged, compared to its average volume of 307,388. The company has a debt-to-equity ratio of 97.24, a quick ratio of 0.31 and a current ratio of 3.61. The firm has a market cap of C$10.71 billion, a P/E ratio of 11.51, a PEG ratio of 4.09 and a beta of 1.53. The business has a fifty day moving average of C$43.92 and a 200 day moving average of C$44.00. IGM Financial has a 12-month low of C$35.33 and a 12-month high of C$47.96.

IGM Financial Company Profile

IGM Financial is the largest non-bank-affiliated asset manager in Canada. The firm is part of the Power Financial group of companies, which includes Great-West Life, London Life, Canada Life, and Putnam Investments. IGM has two main operating divisionsasset management (operated through Mackenzie Investments) and wealth management (via its Investors Group Wealth Management and Investment Planning Counsel subsidiaries)that provide investment management products and services.