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

Intact Financial (TSE:IFC) had its price target upped by investment analysts at CIBC from C$280.00 to C$290.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s price target points to a potential upside of 0.62% from the company’s current price.

A number of other analysts also recently issued reports on the company. Jefferies Financial Group lifted their price target on Intact Financial from C$284.00 to C$301.00 in a report on Thursday. TD Securities boosted their target price on Intact Financial from C$300.00 to C$324.00 and gave the stock a “buy” rating in a research note on Wednesday. Scotiabank increased their price target on shares of Intact Financial from C$281.00 to C$283.00 in a research note on Thursday, November 7th. Raymond James boosted their price objective on shares of Intact Financial from C$290.00 to C$302.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Cibc World Mkts downgraded shares of Intact Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$292.90.

Intact Financial Stock Up 0.4 %

Shares of TSE:IFC opened at C$288.21 on Thursday. Intact Financial has a fifty-two week low of C$216.62 and a fifty-two week high of C$294.35. The firm’s 50 day moving average price is C$262.84 and its 200 day moving average price is C$260.57. The stock has a market cap of C$51.27 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.

Insider Transactions at Intact Financial

In other Intact Financial news, Senior Officer Charles Brindamour sold 6,000 shares of Intact Financial stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of C$268.50, for a total value of C$1,611,000.00. Also, Senior Officer Frédéric Cotnoir sold 450 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of C$266.73, for a total value of C$120,028.50. Insiders sold 14,300 shares of company stock worth $3,957,892 over the last 90 days. 0.24% of the stock is currently owned by insiders.

About Intact Financial

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.