Scotiabank Cuts Intact Financial (TSE:IFC) Price Target to C$325.00

Intact Financial (TSE:IFC) had its price objective decreased by Scotiabank from C$330.00 to C$325.00 in a research note released on Thursday,BayStreet.CA reports. Scotiabank currently has a sector outperform rating on the stock.

Several other research analysts also recently commented on the stock. Raymond James Financial decreased 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 research note on Wednesday, May 6th. Desjardins dropped their price target on shares of Intact Financial from C$305.00 to C$300.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Canadian Imperial Bank of Commerce cut their price target on shares of Intact Financial from C$314.00 to C$311.00 in a report on Thursday. Jefferies Financial Group boosted their price objective on shares of Intact Financial from C$343.00 to C$351.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, Barclays lowered their price objective on shares of Intact Financial from C$352.00 to C$344.00 and set an “overweight” rating for the company in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$331.09.

Intact Financial Price Performance

Shares of Intact Financial stock opened at C$275.25 on Thursday. The company has a debt-to-equity ratio of 23.22, a current ratio of 7.21 and a quick ratio of 0.28. The business’s 50 day simple moving average is C$285.52 and its two-hundred day simple moving average is C$267.58. The stock has a market capitalization of C$48.54 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 2.01 and a beta of 0.29. Intact Financial has a one year low of C$242.87 and a one year high of C$305.52.

Intact Financial (TSE:IFC) last announced its quarterly earnings data on Tuesday, July 28th. The company reported C$4.33 earnings per share for the quarter. The firm had revenue of C$5.94 billion during the quarter. Intact Financial had a return on equity of 15.73% and a net margin of 12.04%. Analysts forecast that Intact Financial will post 16.1721014 EPS 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.