Intact Financial (TSE:IFC) Reaches New 52-Week High - Should You Buy?

Intact Financial Co. (TSE:IFC - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as C$300.56 and last traded at C$300.52, with a volume of 45138 shares. The stock had previously closed at C$298.28.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on IFC shares. TD Securities upped their target price on Intact Financial from C$300.00 to C$324.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Raymond James increased their price target on Intact Financial from C$290.00 to C$302.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. CIBC lifted their price objective on shares of Intact Financial from C$290.00 to C$300.00 in a research note on Friday, April 25th. Scotiabank increased their target price on shares of Intact Financial from C$295.00 to C$298.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Cibc World Mkts cut shares of Intact Financial from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$295.09.

Intact Financial Price Performance

The company's 50-day simple moving average is C$287.74 and its two-hundred day simple moving average is C$273.79. The firm has a market capitalization of C$54.15 billion, a P/E ratio of 23.57, a P/E/G ratio of 2.01 and a beta of 0.57.

Insider Activity

In other news, Senior Officer Benoit Morissette sold 6,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of C$287.12, for a total value of C$1,722,738.00. Company insiders own 0.24% of the company's stock.

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.