Barclays Raises TMX Group (TSE:X) Price Target to C$59.00

Key Points

• Barclays raised its price target on TMX Group to C$59.00 from C$58.00, implying about 23.3% upside from the current share price.
• TMX Group continues to receive mostly positive analyst attention, with multiple firms recently lifting targets; the stock now has a Moderate Buy consensus and an average target price of C$65.47.
• The shares were down 1.4% on the day to C$47.85, while insider activity showed John Mckenzie sold 69,970 shares in May, reducing his ownership by about 41%.

TMX Group (TSE:X - Get Free Report) had its price objective raised by investment analysts at Barclays from C$58.00 to C$59.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Barclays's target price indicates a potential upside of 23.30% from the company's current price.

X has been the subject of a number of other reports. Royal Bank Of Canada lifted their price target on shares of TMX Group from C$69.00 to C$71.00 and gave the company an "outperform" rating in a research report on Monday, June 15th. BMO Capital Markets raised their target price on shares of TMX Group from C$62.00 to C$65.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Scotia lifted their target price on shares of TMX Group from C$70.00 to C$71.00 and gave the company a "sector outperform" rating in a report on Wednesday, May 6th. National Bank Financial boosted their price target on TMX Group from C$63.00 to C$64.00 and gave the stock a "sector perform" rating in a research report on Tuesday, May 5th. Finally, Canaccord Genuity Group raised their price objective on TMX Group from C$63.00 to C$64.00 and gave the company a "buy" rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$65.47.

TMX Group Stock Down 1.4%

TMX Group stock traded down C$0.66 on Thursday, hitting C$47.85. 199,010 shares of the stock traded hands, compared to its average volume of 879,199. TMX Group has a 1 year low of C$44.10 and a 1 year high of C$57.98. The firm has a market cap of C$13.21 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 12.65 and a beta of -0.16. The company has a current ratio of 2.35, a quick ratio of 0.01 and a debt-to-equity ratio of 44.08. The business's fifty day simple moving average is C$50.86 and its 200 day simple moving average is C$50.07.

Insider Buying and Selling at TMX Group

In other news, insider John Mckenzie sold 69,970 shares of the company's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of C$54.71, for a total transaction of C$3,828,058.70. Following the transaction, the insider directly owned 100,774 shares of the company's stock, valued at C$5,513,345.54. This represents a 40.98% decrease in their ownership of the stock. 1.15% of the stock is owned by corporate insiders.

TMX Group Company Profile

TMX Group Ltd is a company that operates several global markets to provide investment opportunities for its clients. TMX Group's key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, and Trayport, which provides listing markets, trading markets, clearing facilities, depository services, technology solutions, data products, and other services to the global financial community.

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