Definity Financial (TSE:DFY) Reaches New 1-Year High – Still a Buy?

Shares of Definity Financial Co. (TSE:DFY) reached 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 changing hands. The stock had previously closed at C$61.94.

Wall Street Analysts Forecast Growth

DFY has been the subject of several recent analyst reports. BMO Capital Markets lifted their price objective on shares of Definity Financial from C$53.00 to C$57.00 in a research report on Monday, November 11th. Raymond James downgraded shares of Definity Financial from an “outperform” rating to a “market perform” rating and upped their price target for the company from C$53.00 to C$55.00 in a research report on Tuesday, November 12th. Cormark cut shares of Definity Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Scotiabank downgraded Definity Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, National Bankshares upped their target price on shares of Definity Financial from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$54.70.

Definity Financial Stock Down 1.3 %

The company has a quick ratio of 0.31, a current ratio of 7.68 and a debt-to-equity ratio of 6.38. The firm’s 50-day moving average price is C$57.64 and its 200 day moving average price is C$54.38. The firm has a market cap of C$7.02 billion, a P/E ratio of 18.47, 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.