Canadian Imperial Bank of Commerce Issues Positive Forecast for Definity Financial (TSE:DFY) Stock Price

Definity Financial (TSE:DFY) had its price objective raised by investment analysts at Canadian Imperial Bank of Commerce from C$74.00 to C$84.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price indicates a potential upside of 6.46% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. National Bank Financial lifted their price target on shares of Definity Financial from C$93.00 to C$94.00 in a report on Wednesday, April 29th. TD raised their target price on Definity Financial from C$85.00 to C$86.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Jefferies Financial Group boosted their target price on Definity Financial from C$76.00 to C$81.00 in a research note on Monday, May 4th. Barclays increased their price target on Definity Financial from C$78.00 to C$79.00 in a research note on Friday, May 8th. Finally, Desjardins decreased their price objective on Definity Financial from C$75.00 to C$73.00 and set a “hold” rating for the company in a report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$80.20.

Definity Financial Stock Performance

Shares of TSE:DFY traded down C$0.47 during midday trading on Tuesday, reaching C$78.90. The company had a trading volume of 49,530 shares, compared to its average volume of 177,143. The company’s 50 day moving average price is C$70.72 and its 200 day moving average price is C$69.51. The company has a current ratio of 1.25, a quick ratio of 0.31 and a debt-to-equity ratio of 43.41. The stock has a market cap of C$9.49 billion, a P/E ratio of 24.35, a P/E/G ratio of 2.63 and a beta of -0.05. Definity Financial has a 52-week low of C$61.87 and a 52-week high of C$79.92.

Definity Financial (TSE:DFY) last released its earnings results on Thursday, May 7th. The company reported C$0.97 earnings per share for the quarter. Definity Financial had a net margin of 6.94% and a return on equity of 9.82%. The firm had revenue of C$1.92 billion for the quarter. As a group, sell-side analysts anticipate that Definity Financial will post 3.1263962 EPS for the current fiscal year.

Insider Activity

In related news, insider Brigid V. Pelino sold 5,000 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of C$72.00, for a total transaction of C$360,000.00. Following the sale, the insider owned 74,109 shares of the company’s stock, valued at approximately C$5,335,848. This represents a 6.32% decrease in their position. Insiders own 0.50% of the company’s stock.

Definity Financial Company Profile

Definity Financial Corp is a multi-channel, property, and casualty insurance company. It offers auto, property, liability, and pet insurance products to individual customers.