Intact Financial (TSE:IFC) Reaches New 12-Month High After Analyst Upgrade

Intact Financial Co. (TSE:IFC) reached a new 52-week high during mid-day trading on Monday after National Bankshares raised their price target on the stock from C$352.00 to C$358.00. National Bankshares currently has an outperform rating on the stock. Intact Financial traded as high as C$25.12 and last traded at C$262.25, with a volume of 94539 shares traded. The stock had previously closed at C$262.70.

A number of other brokerages have also recently issued reports on IFC. Jefferies Financial Group raised shares of Intact Financial from a “hold” rating to a “buy” rating and upped their target price for the company from C$316.00 to C$317.00 in a report on Tuesday, October 21st. TD Securities decreased their target price on Intact Financial from C$359.00 to C$346.00 in a report on Wednesday, October 22nd. Barclays upgraded Intact Financial to a “strong-buy” rating in a research note on Tuesday, September 30th. BMO Capital Markets increased their price target on Intact Financial from C$330.00 to C$335.00 in a research note on Friday, July 11th. Finally, Scotiabank dropped their price objective on shares of Intact Financial from C$339.00 to C$318.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Intact Financial has a consensus rating of “Moderate Buy” and a consensus price target of C$321.10.

Intact Financial Price Performance

The firm has a market capitalization of C$47.03 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 2.01 and a beta of 0.14. The business’s 50-day moving average is C$270.04 and its 200 day moving average is C$290.00.

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.