Definity Financial (TSE:DFY) Reaches New 52-Week High – Here’s Why

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DFY. Raymond James downgraded Definity Financial from an “outperform” rating to a “market perform” rating and lifted their price target for the company from C$53.00 to C$55.00 in a research report on Tuesday, November 12th. Cormark downgraded shares of Definity Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 30th. TD Securities increased their target price on Definity Financial from C$58.00 to C$59.00 and gave the company a “hold” rating in a research note on Friday, November 8th. BMO Capital Markets lifted their price target 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 research report on Monday, November 11th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$54.70.

Definity Financial Stock Performance

The company has a debt-to-equity ratio of 6.38, a current ratio of 7.68 and a quick ratio of 0.31. The business has a 50 day moving average price of C$57.75 and a two-hundred day moving average price of C$54.57. The stock has a market cap of C$7.07 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04.

Definity Financial Company Profile

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.