Fairfax Financial (TSE:FFH) Hits New 52-Week High Following Analyst Upgrade

Shares of Fairfax Financial Holdings Limited (TSE:FFH) reached a new 52-week high on Tuesday after Royal Bank of Canada raised their price target on the stock from C$1,200.00 to C$1,275.00. Royal Bank of Canada currently has an outperform rating on the stock. Fairfax Financial traded as high as C$1,559.10 and last traded at C$1,562.28, with a volume of 33057 shares traded. The stock had previously closed at C$1,551.53.

A number of other equities research analysts also recently commented on FFH. BMO Capital Markets increased their price objective on shares of Fairfax Financial from C$1,650.00 to C$1,800.00 in a research report on Monday. National Bankshares increased their target price on Fairfax Financial from C$2,000.00 to C$2,100.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. CIBC lifted their price target on Fairfax Financial from C$1,700.00 to C$2,000.00 in a report on Wednesday, March 13th. Cormark increased their price objective on Fairfax Financial from C$1,600.00 to C$1,800.00 in a report on Thursday, April 18th. Finally, Scotiabank boosted their target price on Fairfax Financial from C$1,900.00 to C$2,000.00 in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$1,820.83.

Insider Transactions at Fairfax Financial

In related news, insider Andrew Barnard sold 439 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of C$1,136.00, for a total value of C$498,704.00. In related news, insider Andrew Barnard sold 439 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of C$1,136.00, for a total value of C$498,704.00. Also, Director Brian Johnston Porter acquired 100 shares of the stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of C$1,509.40 per share, for a total transaction of C$150,940.00. Following the completion of the transaction, the director now directly owns 950 shares in the company, valued at approximately C$1,433,930. Over the last 90 days, insiders have bought 190 shares of company stock worth $273,877 and have sold 5,011 shares worth $6,334,563. Insiders own 3.65% of the company’s stock.

Fairfax Financial Trading Down 0.6 %

The company has a 50 day simple moving average of C$1,492.10 and a 200 day simple moving average of C$1,342.76. The company has a current ratio of 3.87, a quick ratio of 0.93 and a debt-to-equity ratio of 37.45. The stock has a market capitalization of C$34.27 billion, a PE ratio of 7.31, a P/E/G ratio of 0.27 and a beta of 0.86.

Fairfax Financial (TSE:FFH) last released its earnings results on Thursday, February 15th. The company reported C$71.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$81.40 by C($9.42). Fairfax Financial had a net margin of 12.26% and a return on equity of 17.26%. The company had revenue of C$9.40 billion during the quarter, compared to analyst estimates of C$10.25 billion. Analysts predict that Fairfax Financial Holdings Limited will post 193.642409 earnings per share for the current fiscal year.

Fairfax Financial Company Profile

Fairfax Financial Holdings Limited, through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in the United States, Canada, Asia, and internationally. The company operates through Property and Casualty Insurance and Reinsurance, Life insurance and Run-off, and Non-Insurance Companies segments.