BMO Capital Markets raises Intact Financial (TSE:IFC) price target to C$230.00

Intact Financial (TSE: IFC – Get a rating) saw its price target raised by BMO Capital Markets research analysts from C$220.00 to C$230.00 in a report on Friday, BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 16.44% from the company’s previous close.

A number of other equity analysts have also recently commented on IFC. Cormark lowered its target price on Intact Financial from C$210.00 to C$200.00 in a Tuesday, August 2 report. National Bankshares raised its price target on Intact Financial from C$227.00 to C$230.00 and gave the stock an “outperform” rating in a Friday, July 29 research report. Raymond James raised his price target on Intact Financial from C$206.00 to C$229.00 and gave the company a “Strong Buy” rating in a Tuesday, August 2 research report. TD Securities raised its price target on Intact Financial from C$215.00 to C$220.00 and gave the company a “buy” rating in a report released Friday, July 29. Finally, Scotiabank raised its price target on Intact Financial from C$210.00 to C$215.00 in a report on Friday. Eight research analysts gave the stock a buy rating and two gave the stock a strong buy rating. According to MarketBeat.com, the stock currently has a consensus buy rating and an average target price of C$215.64.

Intact Financial Trading down 0.6%

Shares of Intact Financial traded at C$1.28 midday Friday, hitting C$197.52. 166,485 shares of the company were traded, compared to its average volume of 389,465. The stock has a 50-day moving average of C$192.24 and a 200-day moving average of C$185.54. The company has a debt ratio of 30.85, a quick ratio of 0.27 and a current ratio of 0.44. The company has a market capitalization of C$34.63 billion and a PE ratio of 13.65. Intact Financial has a 12-month low of C$158.00 and a 12-month high of C$205.40.

Intact Financial (TSE: IFC – Get a rating) last released its quarterly earnings data on Thursday, July 28. The company reported EPS of C$7.29 for the quarter, beating the consensus estimate of C$2.84 by C$4.45. The company had revenue of C$5.34 billion for the quarter. As a group, equity analysts expect Intact Financial to post EPS of 13.0600009 for the current fiscal year.

Insider buying and selling at Intact Financial

In addition, Chief Executive Anne Fortin sold 350 shares of the company in a transaction that took place on Thursday, August 11. The stock was sold at an average price of CA$191.39, for a total transaction of CA$66,986.50. As a result of the sale, the insider now owns 8,936 shares of the company, valued at approximately C$1,710,261.04. In other Intact Financial news, Chief Executive Louis Marcotte sold 4,000 shares of the company in a trade dated Tuesday, August 23. The shares were sold at an average price of CA$194.91, for a total value of CA$779,640.00. Following the completion of the transaction, the insider now directly owns 26,155 shares of the company, valued at approximately C$5,097,871.05. Additionally, senior officer Anne Fortin sold 350 shares in a trade dated Thursday, August 11. The stock was sold at an average price of CA$191.39, for a total transaction of CA$66,986.50. As a result of the sale, the insider now owns 8,936 shares of the company, valued at approximately C$1,710,261.04.

About Intact Financial

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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, the 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 the protection of homes and their contents against risks, including fire, theft, vandalism, water damage and other damage, as well as coverage for civil liability; and property coverage for renters, condominium owners, non-owner occupied residences and seasonal residences.

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Analyst Recommendations for Intact Financial (TSE: IFC)

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