TD Forecasts Strong Price Appreciation for Definity Financial (TSE:DFY) Stock

Key Points

• TD raised its price target for Definity Financial from C$89 to C$93 and maintained a “buy” rating, implying approximately 16.94% upside from the reported C$79.53 share price.
• Analyst sentiment is generally positive: Definity has a consensus “Moderate Buy” rating and an average price target of C$83.40, with four Buy and four Hold ratings.
• The company reported quarterly EPS of C$0.97 on revenue of C$2.05 billion, while shares are trading near their 52-week high of C$81.99 and above both their 50-day and 200-day moving averages.

Definity Financial (TSE:DFY - Get Free Report) had its price objective increased by TD from C$89.00 to C$93.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD's price objective would suggest a potential upside of 16.94% from the company's current price.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group increased their price objective on Definity Financial from C$83.00 to C$91.00 and gave the company a "buy" rating in a report on Monday. Canadian Imperial Bank of Commerce lifted their target price on Definity Financial from C$74.00 to C$84.00 in a report on Tuesday, July 14th. National Bank Financial upped their target price on Definity Financial from C$94.00 to C$96.00 and gave the company an "outperform" rating in a research report on Monday. Barclays increased their price target on shares of Definity Financial from C$78.00 to C$79.00 in a report on Friday, May 8th. Finally, Desjardins reduced their price target on shares of Definity Financial from C$75.00 to C$73.00 and set a "hold" rating for the company in a research report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$83.40.

Definity Financial Stock Performance

Shares of TSE:DFY traded up C$1.02 on Friday, hitting C$79.53. 209,804 shares of the company were exchanged, compared to its average volume of 179,424. The firm has a market capitalization of C$9.56 billion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 2.63 and a beta of -0.05. The company has a current ratio of 1.25, a quick ratio of 0.31 and a debt-to-equity ratio of 43.41. Definity Financial has a 1-year low of C$61.87 and a 1-year high of C$81.99. The stock's 50 day moving average price is C$73.78 and its 200 day moving average price is C$69.79.

Definity Financial (TSE:DFY - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported C$0.97 earnings per share (EPS) for the quarter. Definity Financial had a return on equity of 9.82% and a net margin of 6.94%.The company had revenue of C$2.05 billion during the quarter. Sell-side analysts predict that Definity Financial will post 3.1263962 EPS for the current year.

Insider Buying and Selling at Definity Financial

In other news, insider Brigid V. Pelino sold 5,000 shares of the business's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of C$72.00, for a total value of C$360,000.00. Following the completion of the transaction, the insider owned 74,109 shares of the company's stock, valued at C$5,335,848. The trade was a 6.32% decrease in their position. Insiders own 0.50% of the company's stock.

Definity Financial Company Profile

Definity Financial Corp is a multi-channel, property, and casualty insurance company. It offers auto, property, liability, and pet insurance products to individual customers.

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