Intact Financial (TSE:IFC) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Intact Financial Co. (TSE:IFC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$276.57 and traded as high as C$299.80. Intact Financial shares last traded at C$299.22, with a volume of 293,534 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IFC. UBS Group raised their target price on Intact Financial from C$275.00 to C$290.00 in a research report on Tuesday, February 18th. Jefferies Financial Group increased their price target on Intact Financial from C$201.00 to C$289.00 in a report on Monday, April 21st. Raymond James increased their price target on Intact Financial from C$302.00 to C$330.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. BMO Capital Markets increased their price target on Intact Financial from C$290.00 to C$315.00 in a report on Thursday, February 13th. Finally, Scotiabank increased their price target on Intact Financial from C$298.00 to C$305.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$310.90.

Intact Financial Price Performance

The firm has a 50 day simple moving average of C$291.09 and a 200-day simple moving average of C$276.57. The company has a market cap of C$53.23 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.01 and a beta of 0.57.

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.