Intact Financial (TSE:IFC) Given New C$238.00 Price Target at Desjardins

Intact Financial (TSE:IFC - Get Free Report) had its price objective lifted by investment analysts at Desjardins from C$235.00 to C$238.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Desjardins' target price points to a potential upside of 7.47% from the company's previous close. Desjardins also issued estimates for Intact Financial's Q1 2024 earnings at $3.50 EPS and FY2024 earnings at $14.65 EPS.

Several other research firms have also recently issued reports on IFC. BMO Capital Markets upped their price target on Intact Financial from C$230.00 to C$240.00 and gave the company an "outperform" rating in a report on Thursday, February 15th. CIBC upped their price target on Intact Financial from C$225.00 to C$250.00 and gave the company an "outperform" rating in a report on Thursday, February 15th. Raymond James upped their price target on Intact Financial from C$221.00 to C$247.00 in a report on Wednesday, February 14th. National Bankshares dropped their price target on Intact Financial from C$250.00 to C$245.00 and set an "outperform" rating on the stock in a report on Thursday, February 15th. Finally, Royal Bank of Canada upped their price target on Intact Financial from C$228.00 to C$229.00 and gave the company a "sector perform" rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$236.70.

Intact Financial Price Performance

IFC traded up C$1.45 during trading on Tuesday, reaching C$221.46. The stock had a trading volume of 364,555 shares, compared to its average volume of 308,472. The firm has a market capitalization of C$39.49 billion, a price-to-earnings ratio of 31.68, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. The company has a quick ratio of 0.28, a current ratio of 0.38 and a debt-to-equity ratio of 34.90. Intact Financial has a 1-year low of C$188.22 and a 1-year high of C$237.25. The stock has a 50 day moving average of C$222.64 and a two-hundred day moving average of C$210.49.

Intact Financial (TSE:IFC - Get Free Report) last released its earnings results on Tuesday, February 13th. The company reported C$3.47 earnings per share for the quarter, topping analysts' consensus estimates of C$3.44 by C$0.03. The firm had revenue of C$6.53 billion during the quarter. Intact Financial had a return on equity of 8.16% and a net margin of 4.59%. As a group, equities analysts anticipate that Intact Financial will post 14.4651774 EPS for the current fiscal year.

Insider Transactions at Intact Financial

In other news, Senior Officer Benoit Morissette sold 7,000 shares of the company's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of C$226.23, for a total value of C$1,583,589.00. 0.23% of the stock is currently owned by company insiders.

Intact Financial Company Profile

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally. The company offers insurance, such as personal auto which provides coverage from accidents, third party liability, and physical damage; personal property which provides protection for homes and contents from risks, including fire, theft, vandalism, water damages, other damages, and personal liability; and commercial line and specialty line insurance which provides commercial auto, property, and liability coverages.