Intact Financial (TSE:IFC) Hits New 52-Week Low – What’s Next?

Intact Financial Co. (TSE:IFC)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as C$0.03 and last traded at C$287.04, with a volume of 91997 shares trading hands. The stock had previously closed at C$285.11.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IFC. UBS Group boosted their price target on Intact Financial from C$275.00 to C$290.00 in a research note on Tuesday, February 18th. Desjardins lifted their price objective on shares of Intact Financial from C$295.00 to C$315.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. TD Securities lifted their price target on Intact Financial from C$300.00 to C$324.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. National Bankshares increased their price objective on Intact Financial from C$294.00 to C$296.00 in a report on Wednesday, November 6th. Finally, Cibc World Mkts downgraded Intact Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$292.64.

Intact Financial Trading Up 1.1 %

The firm has a market cap of C$51.25 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The company has a 50-day simple moving average of C$267.34 and a 200 day simple moving average of C$263.68.

Insider Buying and Selling

In other news, Senior Officer Darren Christopher Godfrey sold 1,850 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of C$272.50, for a total transaction of C$504,125.00. Also, Senior Officer Benoit Morissette sold 6,000 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of C$287.12, for a total transaction of C$1,722,738.00. 0.24% of the stock is currently owned by insiders.

About Intact Financial

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.