Intact Financial (TSE: IFC) Reaches New 1-Year Low Following Analyst Downgrade

Shares of Intact Financial Co. (TSE: IFC – Get Rating) hit a new 52-week low during trading on Friday after Raymond James lowered their price target on the stock from C $ 217.00 to C $ 206.00. Raymond James currently has a strong-buy rating on the stock. Intact Financial traded as low as C $ 23.02 and last traded at C $ 178.03, with a volume of 68439 shares traded. The stock had previously closed at C $ 176.03.

IFC has been the topic of a number of other reports. Cormark upped their price target on Intact Financial from C $ 187.00 to C $ 197.00 and gave the company a “buy” rating in a research report on Thursday, February 3rd. Royal Bank of Canada upped their price target on Intact Financial from C $ 200.00 to C $ 216.00 and gave the company an “outperform” rating in a research report on Wednesday, February 9th. Scotiabank lowered their price target on Intact Financial from C $ 201.00 to C $ 200.00 in a research report on Tuesday, April 12th. Barclays started coverage on Intact Financial in a research report on Thursday, May 5th. They issued an “overweight” rating and a C $ 210.00 price target on the stock. Finally, TD Securities upped their price target on Intact Financial from C $ 205.00 to C $ 210.00 and gave the company a “buy” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C $ 211.50.

The company has a quick ratio of 0.43, a current ratio of 0.70 and a debt-to-equity ratio of 35.11. The firm has a market capitalization of C $ 31.36 billion and a P / E ratio of 14.19. The stock has a fifty day moving average of C $ 182.74 and a 200-day moving average of C $ 173.58.

Intact Financial (TSE: IFC – Get Rating) last posted its quarterly earnings data on Tuesday, February 8th. The company reported C $ 3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C $ 2.63 by C $ 1.15. The firm had revenue of C $ 5.42 billion for the quarter, compared to the consensus estimate of C $ 4.88 billion. Sell-side analysts predict that Intact Financial Co. will post 12.4700011 EPS for the current fiscal year.

About Intact Financial (TSE: IFC)

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, Ireland, rest of Europe, and the Middle East. It offers personal auto insurance; insurance for motor homes, recreational vehicles, motorcycles, snowmobiles, and all-terrain vehicles; personal property insurance, such as protection for homes and contents from risks, including fire, theft, vandalism, water damage, and other damages, as well as personal liability coverage; and property coverage for tenants, condominium owners, non-owner occupied residences, and seasonal residences.

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