National Bankshares Forecasts Strong Price Appreciation for Definity Financial (TSE:DFY) Stock

Definity Financial (TSE:DFY) had its price target upped by analysts at National Bankshares from C$62.00 to C$65.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bankshares’ price target indicates a potential upside of 20.98% from the stock’s current price.

Several other research analysts have also recently commented on the company. Cormark boosted their target price on Definity Financial from C$49.00 to C$51.00 in a research note on Friday, July 26th. Cibc World Mkts downgraded Definity Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. CIBC lowered shares of Definity Financial from an “outperform” rating to a “neutral” rating and upped their target price for the stock from C$47.00 to C$51.00 in a research note on Tuesday, August 6th. TD Securities lifted their price target on shares of Definity Financial from C$52.00 to C$55.00 in a research note on Friday, September 20th. Finally, Royal Bank of Canada increased their price objective on shares of Definity Financial from C$58.00 to C$61.00 in a research report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$53.70.

Definity Financial Price Performance

Shares of DFY opened at C$53.73 on Wednesday. The firm has a 50-day simple moving average of C$52.43 and a two-hundred day simple moving average of C$47.92. The company has a debt-to-equity ratio of 6.38, a current ratio of 7.68 and a quick ratio of 0.31. Definity Financial has a 1-year low of C$35.48 and a 1-year high of C$55.86. The stock has a market cap of C$6.17 billion, a PE ratio of 16.23, a P/E/G ratio of 2.63 and a beta of 0.04.

Definity Financial (TSE:DFY) last posted its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.66 by C$0.28. The firm had revenue of C$1.05 billion for the quarter, compared to analyst estimates of C$1.07 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. As a group, analysts forecast that Definity Financial will post 3.1263962 EPS for the current 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.