Definity Financial (TSE:DFY) Price Target Raised to C$65.00

Definity Financial (TSE:DFY) had its target price lifted by investment analysts at National Bankshares from C$62.00 to C$65.00 in a research report issued on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ target price suggests a potential upside of 20.98% from the stock’s current price.

Several other research analysts have also commented on DFY. Cormark raised their price target on shares of Definity Financial from C$49.00 to C$51.00 in a report on Friday, July 26th. Desjardins raised their target price on shares of Definity Financial from C$47.00 to C$52.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. Scotiabank upped their price target on shares of Definity Financial from C$51.00 to C$53.00 in a research report on Friday, September 20th. TD Securities raised their price objective on Definity Financial from C$52.00 to C$55.00 in a research report on Friday, September 20th. Finally, CIBC cut Definity Financial from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from C$47.00 to C$51.00 in a research note on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$53.70.

Definity Financial Price Performance

Shares of TSE:DFY opened at C$53.73 on Wednesday. The company has a market cap of C$6.17 billion, a P/E ratio of 16.23, a P/E/G ratio of 2.63 and a beta of 0.04. The business has a fifty day simple moving average of C$52.43 and a 200-day simple moving average of C$47.92. Definity Financial has a 52 week low of C$35.48 and a 52 week high of C$55.86. The company has a quick ratio of 0.31, a current ratio of 7.68 and a debt-to-equity ratio of 6.38.

Definity Financial (TSE:DFY) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, topping the consensus estimate of C$0.66 by C$0.28. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%. The firm had revenue of C$1.05 billion during the quarter, compared to analyst estimates of C$1.07 billion. Equities research analysts forecast that Definity Financial will post 3.1263962 EPS for the current year.

Definity Financial Company Profile

Definity Financial Corporation, together with its subsidiaries, offers property and casualty insurance products in Canada. It provides personal insurance products, including auto, property, general and umbrella liability, and pet insurance products to individuals under the Economical, Sonnet, Family, Petsecure, and Peppermint brands; and commercial insurance products, which include fleet, commercial auto, property, liability, and specialty insurance products to businesses under the Definity Insurance and Economical brand name.