CIBC Forecasts Strong Price Appreciation for Fairfax Financial (TSE:FFH) Stock

Fairfax Financial (TSE:FFH) had its price objective increased by equities researchers at CIBC from C$2,200.00 to C$2,400.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price objective indicates a potential upside of 21.81% from the stock’s previous close.

Several other research firms have also weighed in on FFH. Royal Bank of Canada lifted their price objective on shares of Fairfax Financial from C$1,325.00 to C$1,425.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. BMO Capital Markets increased their target price on Fairfax Financial from C$1,850.00 to C$2,200.00 in a report on Monday, November 4th. Cormark upped their price objective on Fairfax Financial from C$1,800.00 to C$2,125.00 in a research report on Monday, November 4th. National Bankshares lifted their price objective on shares of Fairfax Financial from C$2,100.00 to C$2,200.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Scotiabank increased their target price on shares of Fairfax Financial from C$2,100.00 to C$2,200.00 in a report on Monday, November 4th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$2,091.67.

Fairfax Financial Trading Up 0.2 %

Shares of TSE:FFH traded up C$4.59 during trading on Thursday, hitting C$1,970.33. 5,612 shares of the company’s stock were exchanged, compared to its average volume of 86,678. The company has a current ratio of 3.75, a quick ratio of 0.93 and a debt-to-equity ratio of 40.13. The firm has a market cap of C$45.93 billion, a P/E ratio of 8.77, a PEG ratio of 0.27 and a beta of 0.83. The firm has a 50-day moving average price of C$1,989.36 and a two-hundred day moving average price of C$1,772.28. Fairfax Financial has a 1-year low of C$1,213.01 and a 1-year high of C$2,071.49.

Fairfax Financial (TSE:FFH) last issued its earnings results on Thursday, October 31st. The company reported C$58.14 EPS for the quarter, beating the consensus estimate of C$42.45 by C$15.69. Fairfax Financial had a net margin of 12.27% and a return on equity of 17.91%. During the same quarter in the previous year, the business posted $42.26 earnings per share. Equities analysts predict that Fairfax Financial will post 212.3039807 earnings per share for the current year.

Insider Transactions at Fairfax Financial

In related news, Director David Lloyd Johnston sold 13 shares of the company’s stock in a transaction dated Thursday, November 28th. The shares were sold at an average price of C$1,978.89, for a total value of C$25,725.57. Also, Director F. Brian Bradstreet sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of C$1,875.00, for a total transaction of C$1,875,000.00. Insiders have sold 7,362 shares of company stock worth $5,067,724 in the last ninety days. Insiders own 3.76% of the company’s stock.

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.