Raymond James Financial Issues Pessimistic Forecast for Intact Financial (TSE:IFC) Stock Price

Key Points

• Raymond James cut its price target for Intact Financial to C$305 (from C$310) but maintained an "outperform" rating, with the new target implying about a 23.34% upside from the current share price.
• Other analysts mostly raised targets (TD, National Bank, Jefferies, Barclays), leaving an average price target of C$323.55 and a consensus rating of "Moderate Buy" (one Strong Buy, seven Buy, two Hold).
• Shares recently fell to C$247.29; Intact reported Q results of C$4.61 EPS, revenue of C$5.83B, a market cap of C$43.91B and a P/E of 13.48, with a 52-week range of C$242.87–C$317.35.

Intact Financial (TSE:IFC - Get Free Report) had its price objective decreased by equities researchers at Raymond James Financial from C$310.00 to C$305.00 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's price target points to a potential upside of 23.34% from the stock's current price.

IFC has been the subject of a number of other research reports. TD Securities increased their price objective on shares of Intact Financial from C$346.00 to C$354.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. National Bank Financial increased their price objective on shares of Intact Financial from C$364.00 to C$372.00 in a research note on Wednesday, April 29th. Jefferies Financial Group increased their price objective on shares of Intact Financial from C$306.00 to C$324.00 in a research note on Monday. Desjardins dropped their price objective 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, Barclays increased their price objective on Intact Financial from C$322.00 to C$327.00 in a research note on Wednesday. One 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$323.55.

Intact Financial Stock Performance

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

Intact Financial (TSE:IFC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported C$4.61 earnings per share for the quarter. Intact Financial had a net margin of 12.91% and a return on equity of 17.09%. The firm had revenue of C$5.83 billion for the quarter. As a group, analysts predict that Intact Financial will post 16.1721014 earnings per share for the current fiscal 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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