Intact Financial (TSE:IFC) Reaches New 52-Week Low – Here’s What Happened

Intact Financial Co. (TSE:IFC)’s share price hit a new 52-week low on Tuesday . The company traded as low as C$251.63 and last traded at C$251.74, with a volume of 586280 shares changing hands. The stock had previously closed at C$258.45.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Jefferies Financial Group raised their price target on Intact Financial from C$317.00 to C$320.00 in a report on Thursday, November 6th. Desjardins reduced their price target on shares of Intact Financial from C$335.00 to C$305.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. TD Securities lowered their price objective on shares of Intact Financial from C$359.00 to C$346.00 in a research report on Wednesday, October 22nd. Royal Bank Of Canada dropped their price objective on shares of Intact Financial from C$324.00 to C$304.00 in a research note on Thursday, November 6th. Finally, Barclays upped their target price on shares of Intact Financial from C$312.00 to C$318.00 in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Intact Financial presently has an average rating of “Moderate Buy” and a consensus target price of C$317.91.

Intact Financial Stock Down 0.1%

The company’s 50 day simple moving average is C$276.41 and its 200-day simple moving average is C$276.67. The firm has a market cap of C$43.92 billion, a P/E ratio of 14.81, a P/E/G ratio of 2.01 and a beta of 0.14.

Intact Financial (TSE:IFC) last released its earnings results on Tuesday, November 4th. The company reported C$4.46 EPS for the quarter. Intact Financial had a return on equity of 13.13% and a net margin of 8.60%.The firm had revenue of C$6.45 billion for the quarter. Equities research analysts predict that Intact Financial Co. will post 16.1721014 EPS for the current 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.