TD Securities Raises Definity Financial (TSE:DFY) Price Target to C$55.00

Definity Financial (TSE:DFY) had its price target hoisted by equities researchers at TD Securities from C$52.00 to C$55.00 in a research report issued on Friday, BayStreet.CA reports. TD Securities’ price target points to a potential upside of 7.86% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Cibc World Mkts lowered shares of Definity Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. National Bankshares raised their price target on Definity Financial from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Royal Bank of Canada raised their price target on Definity Financial from C$58.00 to C$61.00 in a research report on Friday, August 2nd. Raymond James raised their price target on Definity Financial from C$52.50 to C$55.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Finally, Desjardins raised their price target on Definity Financial from C$47.00 to C$52.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$53.10.

Definity Financial Price Performance

DFY traded up C$1.15 during trading on Friday, reaching C$50.99. 83,810 shares of the company traded hands, compared to its average volume of 96,647. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68. Definity Financial has a 12-month low of C$35.48 and a 12-month high of C$51.18. The firm has a fifty day simple moving average of C$48.61 and a 200 day simple moving average of C$45.91. The company has a market cap of C$5.86 billion, a P/E ratio of 15.46, a PEG ratio of 2.63 and a beta of 0.01.

Definity Financial (TSE:DFY) last posted its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.66 by C$0.28. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%. The firm had revenue of C$1.05 billion during the quarter, compared to analyst estimates of C$1.07 billion. On average, equities analysts forecast that Definity Financial will post 3.1395647 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.