Intact Financial (TSE:IFC) Sets New 1-Year High – Here’s Why

Intact Financial Co. (TSE:IFC) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$271.93 and last traded at C$271.93, with a volume of 26029 shares trading hands. The stock had previously closed at C$269.61.

Analyst Ratings Changes

Several research firms have issued reports on IFC. CIBC upped their price objective on shares of Intact Financial from C$250.00 to C$270.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Desjardins upped their price objective on shares of Intact Financial from C$250.00 to C$255.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. BMO Capital Markets upped their target price on shares of Intact Financial from C$250.00 to C$275.00 in a report on Thursday, August 1st. National Bankshares upped their target price on shares of Intact Financial from C$280.00 to C$294.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Raymond James reduced their target price on shares of Intact Financial from C$269.00 to C$264.00 in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$267.90.

Intact Financial Stock Up 0.6 %

The stock has a market capitalization of C$48.39 billion, a PE ratio of 23.85, a PEG ratio of 2.01 and a beta of 0.57. The firm’s fifty day moving average is C$259.27 and its 200-day moving average is C$242.67. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 31.26.

Insider Buying and Selling at Intact Financial

In other Intact Financial news, Senior Officer Kenneth Anderson sold 2,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$253.88, for a total value of C$507,759.00. 0.24% of the stock is currently owned by corporate insiders.

About Intact Financial

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally. The company offers insurance, such as personal auto which provides coverage from accidents, third party liability, and physical damage; personal property which provides protection for homes and contents from risks, including fire, theft, vandalism, water damages, other damages, and personal liability; and commercial line and specialty line insurance which provides commercial auto, property, and liability coverages.