Fairfax Financial (TSE:FFH) Reaches New 1-Year High Following Analyst Upgrade

Fairfax Financial Holdings Limited (TSE:FFH) shares hit a new 52-week high during mid-day trading on Tuesday after Royal Bank of Canada raised their price target on the stock from C$1,200.00 to C$1,275.00. Royal Bank of Canada currently has an outperform rating on the stock. Fairfax Financial traded as high as C$1,559.10 and last traded at C$1,562.28, with a volume of 33057 shares changing hands. The stock had previously closed at C$1,551.53.

Several other brokerages have also commented on FFH. Scotiabank boosted their price target on Fairfax Financial from C$1,900.00 to C$2,000.00 in a research note on Friday, April 26th. National Bankshares boosted their price target on Fairfax Financial from C$2,000.00 to C$2,100.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. BMO Capital Markets boosted their price target on Fairfax Financial from C$1,650.00 to C$1,800.00 in a research note on Monday. CIBC boosted their price objective on Fairfax Financial from C$1,700.00 to C$2,000.00 in a research note on Wednesday, March 13th. Finally, Cormark boosted their price objective on Fairfax Financial from C$1,600.00 to C$1,800.00 in a research note on Thursday, April 18th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Fairfax Financial has a consensus rating of “Buy” and an average target price of C$1,820.83.

Insider Activity at Fairfax Financial

In other Fairfax Financial news, insider Andrew Barnard sold 2,572 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$1,120.68, for a total value of C$2,882,388.96. In other news, Director Brian Johnston Porter acquired 100 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of C$1,509.40 per share, for a total transaction of C$150,940.00. Following the completion of the acquisition, the director now owns 950 shares in the company, valued at C$1,433,930. Also, insider Andrew Barnard sold 2,572 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$1,120.68, for a total value of C$2,882,388.96. Over the last quarter, insiders purchased 190 shares of company stock worth $273,877 and sold 4,572 shares worth $5,835,859. 3.65% of the stock is currently owned by corporate insiders.

Fairfax Financial Stock Up 0.7 %

The firm has a 50-day moving average of C$1,489.12 and a 200 day moving average of C$1,339.40. The company has a debt-to-equity ratio of 37.45, a current ratio of 3.87 and a quick ratio of 0.93. The stock has a market capitalization of C$34.50 billion, a price-to-earnings ratio of 7.31, a PEG ratio of 0.27 and a beta of 0.86.

Fairfax Financial (TSE:FFH) last released its quarterly earnings data on Thursday, February 15th. The company reported C$71.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$81.40 by C($9.42). Fairfax Financial had a net margin of 12.26% and a return on equity of 17.26%. The business had revenue of C$9.40 billion during the quarter, compared to analyst estimates of C$10.25 billion. As a group, sell-side analysts forecast that Fairfax Financial Holdings Limited will post 193.642409 earnings per share for the current fiscal year.

About Fairfax Financial

Fairfax Financial Holdings Limited, through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in the United States, Canada, Asia, and internationally. The company operates through Property and Casualty Insurance and Reinsurance, Life insurance and Run-off, and Non-Insurance Companies segments.