Definity Financial (TSE:DFY) Price Target Raised to C$60.00

Definity Financial (TSE:DFY) had its target price increased by research analysts at National Bankshares from C$59.00 to C$60.00 in a report released on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ target price would indicate a potential upside of 28.92% from the company’s previous close.

A number of other analysts have also commented on the company. CIBC lifted their price target on Definity Financial from C$46.00 to C$47.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Scotiabank lifted their price target on Definity Financial from C$49.00 to C$51.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Cormark lifted their price target on Definity Financial from C$42.00 to C$43.00 in a research note on Friday, February 16th. Raymond James lifted their price target on Definity Financial from C$42.00 to C$46.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. Finally, TD Securities lifted their price target on Definity Financial from C$45.00 to C$49.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Definity Financial has an average rating of “Moderate Buy” and a consensus target price of C$47.70.

Definity Financial Stock Performance

TSE:DFY opened at C$46.54 on Tuesday. The stock’s 50-day simple moving average is C$44.78 and its 200 day simple moving average is C$40.30. The firm has a market capitalization of C$5.39 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 2.63 and a beta of 0.08. The company has a quick ratio of 0.31, a current ratio of 4.68 and a debt-to-equity ratio of 4.99. Definity Financial has a twelve month low of C$32.09 and a twelve month high of C$47.50.

Definity Financial (TSE:DFY) last released its quarterly earnings data on Thursday, February 15th. The company reported C$0.86 earnings per share for the quarter, beating the consensus estimate of C$0.74 by C$0.12. The business had revenue of C$1 billion for the quarter. Definity Financial had a return on equity of 12.52% and a net margin of 9.06%. On average, analysts anticipate that Definity Financial will post 2.7913715 EPS for the current fiscal year.

About Definity Financial

Definity Financial Corporation, together with its subsidiaries, offers property and casualty insurance products in Canada. It provides personal insurance products, including auto, property, general and umbrella liability, and pet insurance products to individuals under the Economical, Sonnet, Family, Petsecure, and Peppermint brands; and commercial insurance products, which include fleet, commercial auto, property, liability, and specialty insurance products to businesses under the Definity Insurance and Economical brand name.