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

Intact Financial (TSE:IFC) had its price objective boosted by research analysts at Scotiabank from C$281.00 to C$283.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Scotiabank’s target price points to a potential upside of 6.30% from the stock’s previous close.

A number of other research firms also recently commented on IFC. TD Securities boosted their target price on shares of Intact Financial from C$293.00 to C$300.00 in a report on Wednesday. National Bankshares increased their price objective on Intact Financial from C$294.00 to C$296.00 in a research report on Wednesday. CIBC raised their price objective on Intact Financial from C$250.00 to C$270.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Desjardins boosted their target price on Intact Financial from C$250.00 to C$255.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Cormark increased their price target on Intact Financial from C$250.00 to C$260.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Intact Financial presently has an average rating of “Moderate Buy” and an average price target of C$274.90.

Intact Financial Trading Up 0.9 %

Intact Financial stock opened at C$266.23 on Thursday. Intact Financial has a 12-month low of C$197.82 and a 12-month high of C$273.05. The company has a debt-to-equity ratio of 31.26, a current ratio of 0.36 and a quick ratio of 0.28. The stock has a market capitalization of C$47.48 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The firm has a 50 day simple moving average of C$260.44 and a 200-day simple moving average of C$243.63.

Insider Activity at Intact Financial

In other Intact Financial news, Senior Officer Kenneth Anderson sold 2,000 shares of Intact Financial stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$253.88, for a total transaction of C$507,759.00. 0.24% of the stock is currently owned by insiders.

Intact Financial Company Profile

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally. The company offers insurance, such as personal auto which provides coverage from accidents, third party liability, and physical damage; personal property which provides protection for homes and contents from risks, including fire, theft, vandalism, water damages, other damages, and personal liability; and commercial line and specialty line insurance which provides commercial auto, property, and liability coverages.