Royal Bank Of Canada Cuts Intact Financial (TSE:IFC) Price Target to C$289.00

Key Points

• Royal Bank of Canada cut its price target on Intact Financial from C$304 to C$289 and kept a "sector perform" rating, which implies about a 14.02% upside from the prior close.
• Overall analyst sentiment remains cautiously positive with an average rating of "Moderate Buy" and an average price target of C$322.18, as several brokers have raised targets while a few have trimmed theirs.
• Intact shares traded at C$253.46 (52-week range C$242.87–C$317.35); the company has a ~C$45B market cap, trailing P/E of 13.8 and reported quarterly EPS of C$4.61.

Intact Financial (TSE:IFC - Get Free Report) had its price objective reduced by research analysts at Royal Bank Of Canada from C$304.00 to C$289.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 14.02% from the stock's previous close.

IFC has been the topic of a number of other research reports. Desjardins decreased their price objective on Intact Financial from C$305.00 to C$300.00 and set a "buy" rating on the stock in a research note on Monday, April 27th. Jefferies Financial Group boosted their target price on shares of Intact Financial from C$306.00 to C$324.00 in a research note on Monday. TD Securities upped their target price on shares of Intact Financial from C$346.00 to C$354.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. National Bank Financial raised their price target on shares of Intact Financial from C$364.00 to C$372.00 in a research note on Wednesday, April 29th. Finally, TD lowered their price target on shares of Intact Financial from C$354.00 to C$347.00 and set a "buy" rating for the company in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$322.18.

Intact Financial Price Performance

Shares of Intact Financial stock traded up C$4.46 during trading on Thursday, hitting C$253.46. 170,940 shares of the company were exchanged, compared to its average volume of 468,927. 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 firm has a 50 day moving average price of C$254.92 and a 200 day moving average price of C$265.83. The stock has a market capitalization of C$45.00 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 2.01 and a beta of 0.33.

Intact Financial (TSE:IFC - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported C$4.61 earnings per share for the quarter. Intact Financial had a return on equity of 17.09% and a net margin of 12.91%.The company had revenue of C$5.83 billion during the quarter. On average, equities analysts expect that Intact Financial 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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