Definity Financial (TSE:DFY) Hits New 12-Month High – Still a Buy?

Definity Financial Co. (TSE:DFY) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$62.10 and last traded at C$61.12, with a volume of 89735 shares traded. The stock had previously closed at C$61.94.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Raymond James cut shares of Definity Financial from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from C$53.00 to C$55.00 in a report on Tuesday, November 12th. TD Securities upped their price target on Definity Financial from C$58.00 to C$59.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Cormark downgraded shares of Definity Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets boosted their target price on Definity Financial from C$53.00 to C$57.00 in a research note on Monday, November 11th. Finally, Scotiabank lowered Definity Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$54.70.

Definity Financial Price Performance

The business’s fifty day simple moving average is C$57.75 and its 200-day simple moving average is C$54.57. The company has a current ratio of 7.68, a quick ratio of 0.31 and a debt-to-equity ratio of 6.38. The firm has a market cap of C$7.07 billion, a P/E ratio of 18.59, a PEG ratio of 2.63 and a beta of 0.04.

About Definity Financial

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.