Intact Financial (TSE:IFC) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Intact Financial Co. (TSE:IFC)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$269.07 and traded as high as C$269.63. Intact Financial shares last traded at C$268.27, with a volume of 440,288 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Scotiabank dropped their price objective on shares of Intact Financial from C$330.00 to C$325.00 and set a “sector outperform” rating on the stock in a research note on Thursday, July 30th. Barclays lowered their price target on shares of Intact Financial from C$352.00 to C$344.00 and set an “overweight” rating for the company in a report on Wednesday, July 29th. Raymond James Financial dropped their price target on shares of Intact Financial from C$310.00 to C$305.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. National Bank Financial boosted their price objective on shares of Intact Financial from C$372.00 to C$379.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Finally, Jefferies Financial Group upped their price objective on shares of Intact Financial from C$343.00 to C$351.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$331.09.

Intact Financial Stock Performance

The stock has a 50-day simple moving average of C$283.64 and a 200-day simple moving average of C$269.18. The company has a market capitalization of C$47.80 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 2.01 and a beta of 0.30. The company has a current ratio of 7.21, a quick ratio of 0.28 and a debt-to-equity ratio of 23.22.

Intact Financial (TSE:IFC) last released its quarterly earnings results on Tuesday, July 28th. The company reported C$4.33 earnings per share for the quarter. The business had revenue of C$5.94 billion during the quarter. Intact Financial had a net margin of 12.04% and a return on equity of 15.73%. On average, analysts anticipate that Intact Financial Co. will post 16.1721014 earnings per share for the current year.

Intact Financial Company Profile

Intact Financial Corp is a property and casualty insurance company that provides written premiums in Canada. The company distributes insurance under the Intact Insurance brand through a network of brokers and a wholly-owned subsidiary, BrokerLink, and directly to consumers through Belairdirect. Most of the company’s direct premiums are written in the personal automotive space. Intact directly manages its investments through subsidiary Intact Investment Management. The vast majority of these invested assets are fixed-income securities.