Intact Financial (TSE:IFC) Given New C$347.00 Price Target at TD

Key Points

• TD cut its price target on Intact Financial to C$347.00 (from C$354.00) but maintained a "buy" rating, implying about a 40.3% upside from the prior close.
• Analyst consensus is a "Moderate Buy" with an average price target of C$323.55 (1 Strong Buy, 7 Buy, 2 Hold), after several firms recently raised or lowered their targets.
• Shares fell about 4.6% to C$247.29; the company reported quarterly EPS of C$4.61 and revenue of C$5.83 billion, with a market cap of C$43.91 billion and a P/E of ~13.5.

Intact Financial (TSE:IFC - Get Free Report) had its target price dropped by equities research analysts at TD from C$354.00 to C$347.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD's price objective indicates a potential upside of 40.32% from the company's previous close.

A number of other research analysts also recently issued reports on IFC. National Bank Financial lifted their price target on shares of Intact Financial from C$364.00 to C$372.00 in a research note on Wednesday, April 29th. Jefferies Financial Group lifted their price target on shares of Intact Financial from C$306.00 to C$324.00 in a research note on Monday. Raymond James Financial decreased their price target on shares of Intact Financial from C$330.00 to C$310.00 in a research note on Wednesday, February 11th. Desjardins decreased 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. Finally, TD Securities lifted their price target on shares of Intact Financial from C$346.00 to C$354.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of C$323.55.

Intact Financial Stock Down 4.6%

Shares of IFC stock traded down C$11.81 during trading on Wednesday, reaching C$247.29. The company's stock had a trading volume of 250,843 shares, compared to its average volume of 469,678. The company has a debt-to-equity ratio of 25.21, a current ratio of 6.11 and a quick ratio of 0.28. The company has a market capitalization of C$43.91 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 2.01 and a beta of 0.33. The stock's 50-day moving average price is C$255.12 and its 200 day moving average price is C$265.91. Intact Financial has a 1-year low of C$242.87 and a 1-year high of C$317.35.

Intact Financial (TSE:IFC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported C$4.61 earnings per share (EPS) for the quarter. Intact Financial had a net margin of 12.91% and a return on equity of 17.09%. The company had revenue of C$5.83 billion during the quarter. On average, research analysts anticipate that Intact Financial will post 16.1721014 EPS 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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