Raymond James Increases Intact Financial (TSE:IFC) Price Target to C$135.00

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Intact Financial (TSE:IFC) had its price target upped by Raymond James from C$121.00 to C$135.00 in a research note published on Thursday, BayStreet.CA reports. They currently have an outperform rating on the stock. Raymond James also issued estimates for Intact Financial’s Q3 2019 earnings at $1.73 EPS, Q4 2019 earnings at $2.24 EPS, FY2019 earnings at $6.51 EPS, Q2 2020 earnings at $2.26 EPS, Q3 2020 earnings at $1.67 EPS, Q4 2020 earnings at $2.43 EPS and FY2020 earnings at $8.00 EPS.

Other equities research analysts also recently issued reports about the stock. UBS Group boosted their price objective on shares of Intact Financial from C$122.00 to C$133.00 in a research note on Tuesday, June 18th. Keefe, Bruyette & Woods upped their target price on shares of Intact Financial from C$112.00 to C$115.00 in a research note on Monday, May 13th. CIBC upped their target price on shares of Intact Financial from C$120.00 to C$134.00 and gave the company a neutral rating in a research note on Friday, July 19th. Desjardins restated a buy rating on shares of Dream Industrial REIT in a research note on Thursday, May 9th. Finally, Morgan Stanley upped their target price on shares of Intact Financial from C$125.00 to C$128.00 in a research note on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Intact Financial currently has a consensus rating of Hold and an average target price of C$126.00.

IFC traded up C$2.29 during trading on Thursday, hitting C$126.05. 226,553 shares of the company’s stock were exchanged, compared to its average volume of 260,109. The company has a current ratio of 0.28, a quick ratio of 0.21 and a debt-to-equity ratio of 32.96. Intact Financial has a 1 year low of C$95.75 and a 1 year high of C$127.27. The stock’s 50 day moving average is C$122.75. The stock has a market capitalization of $17.20 billion and a price-to-earnings ratio of 24.37.

Intact Financial (TSE:IFC) last released its quarterly earnings data on Tuesday, May 7th. The company reported C$0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.57 by C$0.16. The business had revenue of C$2.66 billion for the quarter, compared to analysts’ expectations of C$2.53 billion. Sell-side analysts forecast that Intact Financial will post 7.9899997 earnings per share for the current year.

In other news, Senior Officer Joseph D’annunzio sold 1,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of C$118.61, for a total value of C$118,610.00. Following the completion of the transaction, the insider now directly owns 4,730 shares in the company, valued at C$561,025.30.

About Intact Financial

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada and the United States. It offers personal auto insurance; and insurance for motor homes, recreational vehicles, motorcycles, snowmobiles, and all-terrain vehicles.

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Analyst Recommendations for Intact Financial (TSE:IFC)

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