iA Financial (TSE:IAG) Reaches New 52-Week High After Analyst Upgrade

Shares of iA Financial Co. Inc. (TSE:IAG) reached a new 52-week high on Wednesday after National Bankshares raised their price target on the stock from C$118.00 to C$121.00. The company traded as high as C$133.72 and last traded at C$132.08, with a volume of 455627 shares changing hands. The stock had previously closed at C$115.01.

Several other research analysts also recently commented on the company. Scotiabank raised their price objective on iA Financial from C$110.00 to C$126.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. CIBC raised their target price on shares of iA Financial from C$106.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Cormark upped their price target on shares of iA Financial from C$127.00 to C$130.00 in a research report on Wednesday. National Bank Financial downgraded shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, TD Securities upped their target price on shares of iA Financial from C$132.00 to C$135.00 in a report on Wednesday. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$117.13.

iA Financial Price Performance

The firm has a market cap of C$12.72 billion, a P/E ratio of 17.79, a P/E/G ratio of 1.26 and a beta of 1.13. The firm’s fifty day simple moving average is C$110.63 and its 200 day simple moving average is C$96.35. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.17 and a current ratio of 2.22.

iA Financial (TSE:IAG) last announced its quarterly earnings results on Tuesday, August 6th. The company reported C$2.75 EPS for the quarter, beating analysts’ consensus estimates of C$2.58 by C$0.17. iA Financial had a return on equity of 10.51% and a net margin of 9.02%. The company had revenue of C$1.64 billion during the quarter. As a group, analysts forecast that iA Financial Co. Inc. will post 11.6187564 earnings per share for the current year.

About iA Financial

iA Financial Corporation Inc, provides insurance and wealth management services in Canada and the United States. The company operates through Insurance, Canada; Wealth Management; Investment; and US Operations segments. The company provides health, auto, home, and creditor insurance products; replacement insurance products and warranties; extended warranties and other ancillary products for dealer services; specialized products for special markets; and life insurance products and extended warranties relating to dealer services.