Intact Financial (TSE:IFC) Stock Passes Above 200-Day Moving Average - Here's Why

Key Points

• Intact Financial shares crossed above their 200-day moving average, reaching C$269.63 before closing at C$268.27, up slightly from the technical benchmark of C$269.07.
• Analyst sentiment remains positive: eight analysts rate the stock a Buy and two rate it a Hold, producing a consensus “Moderate Buy” rating and an average price target of C$331.09.
• The company reported quarterly earnings of C$4.33 per share on revenue of C$5.94 billion, with a 15.73% return on equity and a 12.04% net margin.

Shares of Intact Financial Co. (TSE:IFC - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$269.07 and traded as high as C$269.63. Intact Financial shares last traded at C$268.27, with a volume of 440,288 shares traded.

Analysts Set New Price Targets

A number of analysts recently issued reports on IFC shares. Royal Bank Of Canada lifted their price target on shares of Intact Financial from C$299.00 to C$308.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 30th. Jefferies Financial Group increased their price objective on shares of Intact Financial from C$343.00 to C$351.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Raymond James Financial decreased their price objective on shares of Intact Financial from C$310.00 to C$305.00 and set an "outperform" rating for the company in a report on Wednesday, May 6th. TD dropped their target price on shares of Intact Financial from C$347.00 to C$345.00 and set a "buy" rating for the company in a research report on Wednesday, July 29th. Finally, National Bank Financial upped their target price on shares of Intact Financial from C$372.00 to C$379.00 and gave the company an "outperform" rating in a research note on Monday, July 27th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$331.09.

Intact Financial Trading Down 0.2%

The company has a market cap of C$47.31 billion, a P/E ratio of 14.92, a P/E/G ratio of 2.01 and a beta of 0.30. The business has a fifty day simple moving average of C$283.95 and a 200 day simple moving average of C$269.07. The company has a debt-to-equity ratio of 23.22, a quick ratio of 0.28 and a current ratio of 7.21.

Intact Financial (TSE:IFC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported C$4.33 earnings per share for the quarter. The business had revenue of C$5.94 billion during the quarter. Intact Financial had a return on equity of 15.73% and a net margin of 12.04%. Analysts anticipate that Intact Financial Co. will post 16.1721014 earnings per share for the current fiscal year.

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. 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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