Fairfax Financial (TSE:FFH) Sets New 52-Week High – Time to Buy?

Fairfax Financial Holdings Limited (TSE:FFH)’s share price hit a new 52-week high during mid-day trading on Friday. The stock traded as high as C$2,771.71 and last traded at C$2,755.21, with a volume of 31,641 shares. The stock had previously closed at C$2,751.79.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FFH shares. ATB Cormark Capital Markets upgraded shares of Fairfax Financial from a “hold” rating to a “moderate buy” rating and upped their target price for the stock from C$2,500.00 to C$2,850.00 in a research note on Wednesday, November 4th. Raymond James Financial boosted their price objective on shares of Fairfax Financial from C$2,900.00 to C$3,150.00 and gave the stock an “outperform” rating in a report on Thursday, November 5th. Royal Bank Of Canada upped their price objective on Fairfax Financial from C$3,254.00 to C$3,335.00 and gave the company an “outperform” rating in a research report on Thursday, November 5th. Scotia increased their target price on Fairfax Financial from C$2,950.00 to C$3,000.00 and gave the company a “sector outperform” rating in a research note on Thursday, November 5th. Finally, National Bank Financial increased their target price on Fairfax Financial from C$3,450.00 to C$3,600.00 and gave the company an “outperform” rating in a research note on Wednesday, October 28th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$2,905.89.

Fairfax Financial Stock Performance

The company has a debt-to-equity ratio of 55.13, a quick ratio of 0.93 and a current ratio of 1.97. The firm has a market cap of C$61.93 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.27 and a beta of 0.44. The business’s 50-day simple moving average is C$2,383.94 and its 200 day simple moving average is C$2,329.20.

Fairfax Financial (TSE:FFH) last released its quarterly earnings results on Tuesday, November 3rd. The company reported C$61.67 earnings per share for the quarter. The firm had revenue of C$17.94 billion for the quarter. Fairfax Financial had a return on equity of 15.98% and a net margin of 11.53%. As a group, equities analysts predict that Fairfax Financial Holdings Limited will post 212.30 earnings per share for the current year.

Fairfax Financial Company Profile

Fairfax Financial is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.