Intact Financial (OTCMKTS:IFCZF) Shares Gap Up – Still a Buy?

Shares of Intact Financial Co. (OTCMKTS:IFCZF) gapped up before the market opened on Wednesday . The stock had previously closed at $181.17, but opened at $226.09. Intact Financial shares last traded at $181.95, with a volume of 35 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IFCZF shares. Barclays reissued an “overweight” rating on shares of Intact Financial in a research report on Wednesday, May 6th. Scotiabank reissued an “outperform” rating on shares of Intact Financial in a research report on Friday, January 30th. Finally, TD Securities reissued a “buy” rating on shares of Intact Financial in a research report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, Intact Financial currently has a consensus rating of “Buy”.

Intact Financial Stock Up 2.4%

The company has a market cap of $33.16 billion and a P/E ratio of 13.80. The company has a 50 day moving average price of $184.90 and a 200-day moving average price of $192.47.

Intact Financial (OTCMKTS:IFCZF) last released its quarterly earnings results on Tuesday, May 5th. The company reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.24. Intact Financial had a return on equity of 19.54% and a net margin of 12.02%.The company had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.28 billion.

Intact Financial Company Profile

Intact Financial Corporation is a leading Canadian property and casualty insurance provider offering a broad range of personal and commercial insurance products and services. Its primary operations in Canada are conducted through Intact Insurance and belairdirect, while its specialty insurance business in the United States operates under the OneBeacon Insurance Group brand. The company’s portfolio includes coverage for auto, home, commercial property and casualty, specialty lines, and accident and health, supported by risk management and claims solutions tailored to individuals, small and medium-sized enterprises, and large corporate clients.

Tracing its origins to the Halifax Fire Insurance Association founded in 1809, Intact Financial has expanded through a series of strategic mergers and acquisitions.