Intact Financial Co. (IFC) Receives Consensus Rating of “Buy” from Analysts

Shares of Intact Financial Co. (TSE:IFC) have received an average rating of “Buy” from the ten ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$109.10.

IFC has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their price target on shares of Intact Financial from C$112.00 to C$111.00 and set an “outperform” rating on the stock in a research note on Thursday, June 7th. BMO Capital Markets dropped their price target on shares of Intact Financial from C$115.00 to C$114.00 in a research note on Friday, June 8th. Raymond James dropped their price target on shares of Intact Financial from C$110.00 to C$107.00 and set an “outperform” rating on the stock in a research note on Monday, July 9th. Barclays dropped their price target on shares of Intact Financial from C$110.00 to C$106.00 in a research note on Friday, July 20th. Finally, Desjardins raised shares of Intact Financial from a “sell” rating to a “hold” rating and lifted their price target for the company from C$100.00 to C$102.00 in a research note on Wednesday, August 1st.

Shares of TSE IFC traded down C$0.37 during midday trading on Friday, reaching C$105.18. 113,900 shares of the stock were exchanged, compared to its average volume of 212,609. Intact Financial has a twelve month low of C$91.65 and a twelve month high of C$109.33.

Intact Financial (TSE:IFC) last released its quarterly earnings results on Tuesday, July 31st. The company reported C$1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.22 by C$0.16. Intact Financial had a net margin of 8.93% and a return on equity of 13.53%. The firm had revenue of C$2.63 billion for the quarter, compared to analysts’ expectations of C$2.53 billion.

In related news, insider Lucie Martel sold 1,430 shares of Intact Financial stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of C$105.14, for a total value of C$150,350.20. Insiders sold a total of 1,630 shares of company stock worth $170,954 in the last three months.

About Intact Financial

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada and the United States. It offers personal auto insurance; and insurance for motor homes, recreational vehicles, motorcycles, snowmobiles, and all-terrain vehicles.

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Analyst Recommendations for Intact Financial (TSE:IFC)

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