Intact Financial Co. (IFC) Given Average Recommendation of “Buy” by Analysts

Intact Financial Co. (TSE:IFC) has been given an average recommendation of “Buy” by the ten brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$109.10.

IFC has been the topic of a number of recent research reports. TD Securities upped their price target on shares of Intact Financial from C$110.00 to C$115.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. BMO Capital Markets upped their target price on shares of Intact Financial from C$114.00 to C$117.00 in a report on Thursday, August 2nd. Raymond James upped their target price on shares of Intact Financial from C$107.00 to C$109.00 and gave the stock an “outperform” rating in a report on Wednesday, August 1st. CIBC upped their target price on shares of Intact Financial from C$103.00 to C$110.00 in a report on Thursday, August 2nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Intact Financial from C$105.00 to C$110.00 in a report on Friday, August 3rd.

Shares of IFC stock traded down C$1.58 during trading on Thursday, reaching C$100.77. 534,549 shares of the company’s stock traded hands, compared to its average volume of 222,544. Intact Financial has a 1 year low of C$91.65 and a 1 year high of C$109.33.

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

In related news, insider Lucie Martel sold 1,430 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of C$105.14, for a total transaction of C$150,350.20. Insiders have sold a total of 1,630 shares of company stock worth $170,954 in the last ninety days.

Intact Financial Company Profile

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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