Intact Financial (TSE:IFC) Price Target Raised to C$238.00 at Desjardins

Intact Financial (TSE:IFC) had its price target hoisted by investment analysts at Desjardins from C$235.00 to C$238.00 in a report released on Tuesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price objective suggests a potential upside of 8.34% from the company’s previous close. Desjardins also issued estimates for Intact Financial’s Q1 2024 earnings at $3.50 EPS and FY2024 earnings at $14.65 EPS.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada lifted their price target on shares of Intact Financial from C$228.00 to C$229.00 and gave the company a “sector perform” rating in a report on Wednesday, February 14th. Scotiabank boosted their target price on shares of Intact Financial from C$252.00 to C$256.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. National Bankshares dropped their target price on shares of Intact Financial from C$250.00 to C$245.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. CIBC boosted their price target on shares of Intact Financial from C$225.00 to C$250.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Finally, Raymond James boosted their price target on shares of Intact Financial from C$221.00 to C$247.00 in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$236.70.

Intact Financial Stock Performance

Shares of IFC opened at C$219.67 on Tuesday. The company has a market capitalization of C$39.17 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. Intact Financial has a one year low of C$188.22 and a one year high of C$237.25. The company has a debt-to-equity ratio of 34.90, a current ratio of 0.38 and a quick ratio of 0.28. The company’s fifty day moving average price is C$222.85 and its 200 day moving average price is C$210.56.

Intact Financial (TSE:IFC) last issued its earnings results on Tuesday, February 13th. The company reported C$3.47 earnings per share for the quarter, beating the consensus estimate of C$3.44 by C$0.03. Intact Financial had a net margin of 4.59% and a return on equity of 8.16%. The business had revenue of C$6.53 billion for the quarter. As a group, analysts expect that Intact Financial will post 14.4651774 earnings per share for the current year.

Insider Buying and Selling

In other news, Senior Officer Benoit Morissette sold 7,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of C$226.23, for a total value of C$1,583,589.00. 0.23% of the stock is currently owned by corporate insiders.

Intact Financial Company Profile

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally. The company offers insurance, such as personal auto which provides coverage from accidents, third party liability, and physical damage; personal property which provides protection for homes and contents from risks, including fire, theft, vandalism, water damages, other damages, and personal liability; and commercial line and specialty line insurance which provides commercial auto, property, and liability coverages.