Royal Bank Of Canada Forecasts Strong Price Appreciation for Fairfax Financial (TSE:FFH) Stock

Key Points

• Royal Bank Of Canada increased its target price for Fairfax Financial stock from C$2,050.00 to C$2,200.00, maintaining an "outperform" rating despite suggesting a potential downside of 8.51% from the last close.
• Other analysts, including Cormark and CIBC, have also raised their price targets significantly, with a consensus target price of C$2,742.86 across five analysts rating the stock as a Buy.
• Fairfax Financial shares experienced a slight increase in trading, reaching C$2,404.63, with a market capitalization of C$38.57 billion and a P/E ratio of 9.21.

Fairfax Financial (TSE:FFH - Get Free Report) had its target price raised by equities research analysts at Royal Bank Of Canada from C$2,050.00 to C$2,200.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential downside of 8.51% from the company's previous close.

A number of other equities analysts have also recently commented on the stock. Cormark lifted their price target on shares of Fairfax Financial from C$2,250.00 to C$2,700.00 in a research note on Monday, May 5th. CIBC boosted their price objective on shares of Fairfax Financial from C$2,500.00 to C$2,700.00 in a research note on Friday, May 2nd. Scotiabank upped their price target on shares of Fairfax Financial from C$2,500.00 to C$2,900.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. National Bankshares upped their price target on shares of Fairfax Financial from C$2,700.00 to C$3,000.00 and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Finally, BMO Capital Markets increased their price objective on shares of Fairfax Financial from C$2,500.00 to C$2,800.00 in a research note on Friday, July 11th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Fairfax Financial currently has a consensus rating of "Buy" and a consensus target price of C$2,742.86.

Fairfax Financial Stock Performance

Shares of TSE:FFH traded up C$2.81 on Tuesday, reaching C$2,404.63. The company's stock had a trading volume of 45,575 shares, compared to its average volume of 54,559. Fairfax Financial has a 52-week low of C$1,425.00 and a 52-week high of C$2,521.95. The company has a market cap of C$38.57 billion, a P/E ratio of 9.21, a PEG ratio of 0.27 and a beta of 0.83. The company has a 50-day simple moving average of C$2,405.82 and a 200 day simple moving average of C$2,183.48.

Insiders Place Their Bets

In other news, Senior Officer Jean Cloutier sold 216 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of C$2,431.86, for a total value of C$525,281.76. Also, insider Andrew Barnard sold 500 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of C$2,274.20, for a total transaction of C$1,137,100.00. Over the last quarter, insiders have acquired 19 shares of company stock valued at $45,878 and have sold 2,424 shares valued at $5,746,799. 3.76% of the stock is owned by company insiders.

Fairfax Financial Company Profile

Fairfax Financial is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.