IGM Financial (TSE:IGM) Given New C$46.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies Financial Group has raised its price target for IGM Financial stock from C$42.00 to C$46.00, suggesting a potential downside of 0.78% from the current price.
• IGM Financial has recently seen varying price targets set by several brokerages, with National Bankshares increasing their target to C$56.00 and Scotiabank raising theirs to C$51.00.
• As of recent trading, IGM Financial shares were priced at C$46.36, with a market capitalization of C$11.05 billion and a PE ratio of 11.88.

IGM Financial (TSE:IGM - Get Free Report) had its price target raised by stock analysts at Jefferies Financial Group from C$42.00 to C$46.00 in a research note issued on Wednesday,BayStreet.CA reports. Jefferies Financial Group's price objective would suggest a potential upside of 2.38% from the company's previous close.

Other equities research analysts have also issued reports about the stock. National Bankshares upped their price target on shares of IGM Financial from C$54.00 to C$56.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Scotiabank upped their price target on shares of IGM Financial from C$49.00 to C$51.00 in a report on Friday, May 9th. BMO Capital Markets lowered their price target on shares of IGM Financial from C$47.00 to C$46.00 in a report on Monday, May 12th. Finally, Royal Bank Of Canada raised shares of IGM Financial to a "hold" rating and set a C$46.00 price objective on the stock in a research report on Wednesday, June 18th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of C$50.14.

IGM Financial Trading Down 2.1%

TSE:IGM traded down C$0.95 during midday trading on Wednesday, reaching C$44.93. 179,645 shares of the stock traded hands, compared to its average volume of 307,388. The company has a fifty day moving average of C$43.92 and a 200 day moving average of C$43.99. IGM Financial has a 12 month low of C$35.33 and a 12 month high of C$47.96. 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 stock has a market capitalization of C$10.71 billion, a P/E ratio of 11.51, a PEG ratio of 4.09 and a beta of 1.53.

About IGM Financial

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.