Intact Financial (TSE:IFC) Given New C$314.00 Price Target at Canadian Imperial Bank of Commerce

Intact Financial (TSE:IFC) had its price objective raised by equities researchers at Canadian Imperial Bank of Commerce from C$288.00 to C$314.00 in a research report issued on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price points to a potential upside of 6.90% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. TD lowered their target price on shares of Intact Financial from C$354.00 to C$347.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Royal Bank Of Canada cut their price target on Intact Financial from C$304.00 to C$289.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. Desjardins decreased their price target on Intact Financial from C$305.00 to C$300.00 and set a “buy” rating for the company in a report on Monday, April 27th. Raymond James Financial lowered their price objective on Intact Financial from C$310.00 to C$305.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Finally, Barclays increased their price objective on Intact Financial from C$322.00 to C$327.00 in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$324.55.

Intact Financial Stock Down 1.1%

Shares of IFC stock traded down C$3.35 during trading hours on Friday, reaching C$293.72. 91,626 shares of the stock were exchanged, compared to its average volume of 466,914. The business’s fifty day moving average is C$275.56 and its two-hundred day moving average is C$266.49. The company has a debt-to-equity ratio of 23.33, a current ratio of 1.69 and a quick ratio of 0.28. Intact Financial has a 12-month low of C$242.87 and a 12-month high of C$310.84. The firm has a market capitalization of C$51.93 billion, a P/E ratio of 15.64, a P/E/G ratio of 2.01 and a beta of 0.29.

Intact Financial (TSE:IFC) last issued its quarterly earnings results on Tuesday, May 5th. The company reported C$4.61 earnings per share (EPS) for the quarter. Intact Financial had a net margin of 12.76% and a return on equity of 16.93%. The company had revenue of C$5.83 billion during the quarter. As a group, research analysts expect that Intact Financial will post 16.1721014 EPS for the current fiscal year.

About Intact Financial

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.