Royal Bank Of Canada Issues Positive Forecast for Intact Financial (TSE:IFC) Stock Price

Key Points

• Royal Bank of Canada raised its price target on Intact Financial to C$299 from C$289, while keeping a sector perform rating on the stock.
• Several other analysts adjusted their views recently, and the overall consensus remains a Moderate Buy with an average target price of C$325.45.
• Intact Financial shares rose to C$297.39 on Monday after the company reported quarterly earnings of C$4.61 per share and revenue of C$5.83 billion.

Intact Financial (TSE:IFC - Get Free Report) had its price target boosted by analysts at Royal Bank Of Canada from C$289.00 to C$299.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target points to a potential upside of 0.54% from the stock's current price.

A number of other analysts have also commented on the company. Barclays increased their price objective on Intact Financial from C$322.00 to C$327.00 in a research note on Wednesday, May 6th. Desjardins cut their target price 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. Raymond James Financial reduced their target price on shares of Intact Financial from C$310.00 to C$305.00 and set an "outperform" rating on the stock in a report on Wednesday, May 6th. TD decreased their price target on shares of Intact Financial from C$354.00 to C$347.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Finally, National Bank Financial lifted their price target on shares of Intact Financial from C$364.00 to C$372.00 in a report on Wednesday, April 29th. One equities research 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$325.45.

Intact Financial Price Performance

IFC stock traded up C$2.78 on Monday, reaching C$297.39. The company had a trading volume of 101,543 shares, compared to its average volume of 466,004. The company's fifty day moving average is C$276.26 and its 200 day moving average is C$266.56. The company has a market cap of C$52.58 billion, a P/E ratio of 15.84, a PEG ratio of 2.01 and a beta of 0.29. The company has a debt-to-equity ratio of 23.33, a quick ratio of 0.28 and a current ratio of 1.69. Intact Financial has a 1 year low of C$242.87 and a 1 year high of C$310.84.

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 16.93% and a net margin of 12.76%.The company had revenue of C$5.83 billion during the quarter. On average, research analysts forecast that Intact Financial will post 16.1721014 earnings per share for the current 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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