TD Securities Raises IGM Financial (TSE:IGM) Price Target to C$56.00

IGM Financial (TSE:IGM) had its target price hoisted by equities researchers at TD Securities from C$51.00 to C$56.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Securities’ price target would indicate a potential upside of 25.14% from the company’s current price.

A number of other research firms have also recently issued reports on IGM. BMO Capital Markets increased their target price on IGM Financial from C$47.00 to C$48.00 in a research note on Monday. Scotiabank increased their price objective on IGM Financial from C$53.00 to C$56.00 in a report on Friday, November 8th. Jefferies Financial Group boosted their price target on IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. CIBC raised their price objective on IGM Financial from C$47.00 to C$50.00 in a research report on Friday, November 8th. Finally, National Bankshares boosted their target price on IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$50.29.

IGM Financial Price Performance

Shares of IGM stock traded up C$0.35 during trading hours on Monday, hitting C$44.75. 115,121 shares of the company’s stock were exchanged, compared to its average volume of 315,068. IGM Financial has a 52 week low of C$32.95 and a 52 week high of C$47.96. The stock’s 50-day moving average is C$45.94 and its 200-day moving average is C$42.68. The company has a debt-to-equity ratio of 35.99, a current ratio of 2.12 and a quick ratio of 0.31. The stock has a market cap of C$10.59 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53.

IGM Financial (TSE:IGM) last released its quarterly earnings data on Thursday, November 7th. The financial services provider reported C$1.01 EPS for the quarter, missing analysts’ consensus estimates of C$1.03 by C($0.02). IGM Financial had a net margin of 29.47% and a return on equity of 12.80%. During the same quarter in the prior year, the firm posted $0.89 earnings per share. As a group, research analysts forecast that IGM Financial will post 4.006816 EPS for the current year.

About IGM Financial

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.