Definity Financial (TSE:DFY) Sets New 52-Week High – Here’s What Happened

Definity Financial Co. (TSE:DFY)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$62.10 and last traded at C$61.12, with a volume of 89735 shares. The stock had previously closed at C$61.94.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. BMO Capital Markets raised their target price on shares of Definity Financial from C$53.00 to C$57.00 in a research report on Monday, November 11th. Scotiabank lowered shares of Definity Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Raymond James downgraded shares of Definity Financial from an “outperform” rating to a “market perform” rating and boosted their target price for the company from C$53.00 to C$55.00 in a research report on Tuesday, November 12th. Cormark lowered Definity Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, National Bankshares lifted their price target on Definity Financial from C$62.00 to C$65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Definity Financial presently has an average rating of “Hold” and an average target price of C$54.70.

Definity Financial Price Performance

The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68. The stock’s 50 day simple moving average is C$57.64 and its two-hundred day simple moving average is C$54.38. The firm has a market capitalization of C$7.02 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04.

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.