CIBC Issues Positive Forecast for iA Financial (TSE:IAG) Stock Price

iA Financial (TSE:IAG) had its price target upped by equities researchers at CIBC from C$120.00 to C$133.00 in a research report issued on Thursday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 1.64% from the company’s current price.

Other research analysts have also issued reports about the stock. Cormark lifted their price target on shares of iA Financial from C$127.00 to C$130.00 in a report on Wednesday. BMO Capital Markets upped their target price on iA Financial from C$102.00 to C$111.00 in a report on Thursday, August 8th. National Bank Financial downgraded iA Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Royal Bank of Canada downgraded iA Financial from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from C$105.00 to C$137.00 in a research note on Thursday. Finally, Cibc World Mkts raised iA Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$128.50.

iA Financial Stock Down 2.1 %

Shares of IAG traded down C$2.79 during midday trading on Thursday, reaching C$130.86. 256,433 shares of the company were exchanged, compared to its average volume of 282,960. The company has a market cap of C$12.45 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 1.26 and a beta of 1.13. iA Financial has a 1-year low of C$80.95 and a 1-year high of C$134.29. The stock has a 50-day moving average price of C$111.27 and a 200-day moving average price of C$96.70. The company has a current ratio of 2.22, a quick ratio of 0.17 and a debt-to-equity ratio of 46.39.

iA Financial (TSE:IAG) last issued its earnings results on Tuesday, August 6th. The company reported C$2.75 EPS for the quarter, topping the consensus estimate of C$2.58 by C$0.17. The company had revenue of C$1.64 billion during the quarter. iA Financial had a return on equity of 10.51% and a net margin of 9.02%. Research analysts expect that iA Financial will post 11.6187564 earnings per share for the current year.

iA Financial Company Profile

iA Financial Corporation Inc, provides insurance and wealth management services in Canada and the United States. The company operates through Insurance, Canada; Wealth Management; Investment; and US Operations segments. The company provides health, auto, home, and creditor insurance products; replacement insurance products and warranties; extended warranties and other ancillary products for dealer services; specialized products for special markets; and life insurance products and extended warranties relating to dealer services.