iA Financial (TSE:IAG) Reaches New 1-Year High After Analyst Upgrade

iA Financial Co. Inc. (TSE:IAG) reached a new 52-week high during mid-day trading 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 equities research analysts have also issued reports on the stock. BMO Capital Markets lifted their price target on shares of iA Financial from C$102.00 to C$111.00 in a research note on Thursday, August 8th. TD Securities lifted their target price on iA Financial from C$132.00 to C$135.00 in a research report on Wednesday. Cibc World Mkts upgraded iA Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. CIBC raised their price target on iA Financial from C$106.00 to C$120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, National Bank Financial cut iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, iA Financial has a consensus rating of “Moderate Buy” and a consensus price target of C$117.13.

iA Financial Trading Up 16.2 %

The business has a fifty day moving average price of C$110.63 and a 200-day moving average price of C$96.35. The company has a quick ratio of 0.17, a current ratio of 2.22 and a debt-to-equity ratio of 46.39. The company has a market cap of C$12.72 billion, a P/E ratio of 17.79, a PEG ratio of 1.26 and a beta of 1.13.

iA Financial (TSE:IAG) last released its quarterly earnings results on Tuesday, August 6th. The company reported C$2.75 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of C$1.64 billion during the quarter. On average, 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.