Canadian Imperial Bank of Commerce Issues Positive Forecast for Definity Financial (TSE:DFY) Stock Price

Definity Financial (TSE:DFY) had its price objective increased by Canadian Imperial Bank of Commerce from C$74.00 to C$84.00 in a research note issued on Tuesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price would indicate a potential upside of 6.46% from the stock’s previous close.

DFY has been the topic of several other research reports. Jefferies Financial Group increased their price target on Definity Financial from C$76.00 to C$81.00 in a report on Monday, May 4th. Desjardins decreased their price objective on Definity Financial from C$75.00 to C$73.00 and set a “hold” rating for the company in a report on Monday, April 27th. National Bank Financial upped their target price on Definity Financial from C$93.00 to C$94.00 in a research report on Wednesday, April 29th. Barclays increased their target price on Definity Financial from C$78.00 to C$79.00 in a report on Friday, May 8th. Finally, TD boosted their price target on shares of Definity Financial from C$85.00 to C$86.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$80.20.

Definity Financial Stock Down 0.6%

Shares of TSE DFY traded down C$0.47 during trading on Tuesday, hitting C$78.90. 49,530 shares of the company traded hands, compared to its average volume of 177,143. The business’s fifty day moving average is C$70.72 and its 200 day moving average is C$69.51. Definity Financial has a fifty-two week low of C$61.87 and a fifty-two week high of C$79.92. The firm has a market capitalization of C$9.49 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 2.63 and a beta of -0.05. The company has a debt-to-equity ratio of 43.41, a quick ratio of 0.31 and a current ratio of 1.25.

Definity Financial (TSE:DFY) last released its quarterly earnings data on Thursday, May 7th. The company reported C$0.97 earnings per share (EPS) for the quarter. Definity Financial had a net margin of 6.94% and a return on equity of 9.82%. The company had revenue of C$1.92 billion for the quarter. Equities research analysts predict that Definity Financial will post 3.1263962 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Definity Financial news, insider Brigid V. Pelino sold 5,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of C$72.00, for a total value of C$360,000.00. Following the completion of the sale, the insider owned 74,109 shares in the company, valued at approximately C$5,335,848. This trade represents a 6.32% decrease in their position. Company insiders own 0.50% of the company’s stock.

About Definity Financial

Definity Financial Corp is a multi-channel, property, and casualty insurance company. It offers auto, property, liability, and pet insurance products to individual customers.