iA Financial (TSE:IAG) Hits New 52-Week High on Analyst Upgrade

iA Financial Co. Inc. (TSE:IAG) hit a new 52-week high during mid-day trading on Wednesday after National Bankshares raised their price target on the stock from C$118.00 to C$121.00. The stock traded as high as C$133.72 and last traded at C$132.08, with a volume of 455627 shares traded. The stock had previously closed at C$115.01.

Other analysts have also recently issued reports about the stock. BMO Capital Markets increased their price target on shares of iA Financial from C$102.00 to C$111.00 in a research note on Thursday, August 8th. TD Securities increased their price objective on iA Financial from C$132.00 to C$135.00 in a research report on Wednesday. CIBC lifted their target price on iA Financial from C$106.00 to C$120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Scotiabank raised their price target on iA Financial from C$110.00 to C$126.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Cibc World Mkts upgraded iA Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, iA Financial has an average rating of “Moderate Buy” and a consensus target price of C$117.13.

iA Financial Trading Up 16.2 %

The company has a market capitalization of C$12.72 billion, a P/E ratio of 17.79, a PEG ratio of 1.26 and a beta of 1.13. The business has a 50 day moving average price of C$110.63 and a 200 day moving average price of C$96.35. The company has a current ratio of 2.22, a quick ratio of 0.17 and a debt-to-equity ratio of 46.39.

iA Financial (TSE:IAG) last issued its earnings results on Tuesday, August 6th. The company reported C$2.75 EPS for the quarter, beating the consensus estimate of C$2.58 by C$0.17. The firm had revenue of C$1.64 billion during the quarter. iA Financial had a net margin of 9.02% and a return on equity of 10.51%. Analysts anticipate that iA Financial Co. Inc. will post 11.6187564 EPS for the current year.

About iA Financial

iA Financial Corporation Inc, provides insurance and wealth management services in Canada and the United States. The company operates through Insurance, Canada; Wealth Management; Investment; and US Operations segments. The company provides health, auto, home, and creditor insurance products; replacement insurance products and warranties; extended warranties and other ancillary products for dealer services; specialized products for special markets; and life insurance products and extended warranties relating to dealer services.