Intact Financial (TSE:IFC) Reaches New 12-Month High - Here's Why

Key Points

• Intact Financial has reached a new 12-month high with its share price hitting C$24.99, previously closing at C$258.62.
• Equities analysts have positive forecasts for Intact Financial, with price objectives ranging from C$318.00 to C$350.00, and ratings varying from "Strong Buy" to "Hold."
• The company operates in the property and casualty insurance sector, primarily writing premiums in the personal automotive space, and has a market capitalization of C$45.45 billion.

Intact Financial Co. (TSE:IFC - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as C$24.99 and last traded at C$254.83, with a volume of 506604 shares. The stock had previously closed at C$258.62.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Scotiabank upped their price objective on shares of Intact Financial from C$318.00 to C$325.00 in a research report on Wednesday, July 23rd. Royal Bank Of Canada decreased their price objective on shares of Intact Financial from C$329.00 to C$324.00 and set a "sector perform" rating for the company in a research report on Thursday, July 31st. Barclays raised shares of Intact Financial to a "strong-buy" rating in a research report on Tuesday, September 30th. BMO Capital Markets upped their price objective on shares of Intact Financial from C$330.00 to C$335.00 in a research report on Friday, July 11th. Finally, National Bankshares upped their price objective on shares of Intact Financial from C$341.00 to C$350.00 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$322.20.

Intact Financial Stock Performance

The firm has a market cap of C$45.45 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 2.01 and a beta of 0.14. The business's 50 day moving average price is C$271.63 and its 200-day moving average price is C$290.51.

Intact Financial Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.