IGM Financial (TSE:IGM) Given New C$56.00 Price Target at National Bankshares

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 raised by analysts at National Bankshares from C$54.00 to C$56.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the financial services provider's stock. National Bankshares' target price would indicate a potential upside of 21.08% from the stock's current price.

A number of other research analysts also recently issued reports on the company. Royal Bank Of Canada raised IGM Financial to a "hold" rating and set a C$46.00 price target for the company in a report on Wednesday, June 18th. Jefferies Financial Group decreased their target price on shares of IGM Financial from C$47.00 to C$42.00 in a research note on Monday, April 21st. Scotiabank increased their price target on shares of IGM Financial from C$49.00 to C$51.00 in a report on Friday, May 9th. Finally, BMO Capital Markets cut their price objective on shares of IGM Financial from C$47.00 to C$46.00 in a report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of C$49.57.

IGM Financial Stock Down 0.8%

Shares of TSE IGM traded down C$0.39 during trading hours on Tuesday, hitting C$46.25. 67,901 shares of the stock were exchanged, compared to its average volume of 308,376. The firm has a fifty day moving average price of C$43.80 and a 200-day moving average price of C$43.94. The company has a market cap of C$11.03 billion, a PE ratio of 11.85, a PEG ratio of 4.09 and a beta of 1.53. The company has a quick ratio of 0.31, a current ratio of 3.61 and a debt-to-equity ratio of 97.24. 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.

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