National Bankshares Forecasts Strong Price Appreciation for Intact Financial (TSE:IFC) Stock

Intact Financial (TSE:IFC) had its price target hoisted by National Bankshares from C$341.00 to C$350.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ target price points to a potential upside of 22.61% from the company’s previous close.

A number of other research firms have also issued reports on IFC. Raymond James Financial boosted their price objective on Intact Financial from C$302.00 to C$330.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. CIBC boosted their price objective on Intact Financial from C$290.00 to C$300.00 in a research report on Friday, April 25th. Royal Bank Of Canada upgraded Intact Financial to a “hold” rating and set a C$329.00 price objective for the company in a research report on Wednesday, June 18th. BMO Capital Markets boosted their price target on Intact Financial from C$330.00 to C$335.00 in a research report on Friday, July 11th. Finally, TD Securities boosted their price target on Intact Financial from C$328.00 to C$349.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intact Financial presently has an average rating of “Moderate Buy” and a consensus target price of C$317.00.

Intact Financial Price Performance

TSE:IFC opened at C$285.45 on Tuesday. Intact Financial has a 12-month low of C$240.37 and a 12-month high of C$317.35. The firm has a market capitalization of C$50.78 billion, a P/E ratio of 22.10, a P/E/G ratio of 2.01 and a beta of 0.57. The business has a 50 day simple moving average of C$307.66 and a 200 day simple moving average of C$291.47.

Insider Activity at Intact Financial

In other news, Director Timothy Michael Miller sold 13,028 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of C$309.88, for a total value of C$4,037,064.53. Corporate insiders own 0.24% of the company’s stock.

About Intact Financial

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.