TD Securities Cuts Thomson Reuters (TSE:TRI) Price Target to C$275.00

Key Points

• TD Securities has reduced its target price for Thomson Reuters (TSE: TRI) from C$305.00 to C$275.00, maintaining a "hold" rating, indicating a potential upside of 10.26% based on the stock's recent close.
• Several brokerages have adjusted their ratings on Thomson Reuters, with Scotiabank downgrading it from "strong-buy" to "hold," and National Bankshares increasing its price target to C$300.00 with an "outperform" rating.
• Insider trading activity has been notable, with directors selling shares in recent transactions, which has resulted in a significant decrease in their ownership stakes in the company.

Thomson Reuters (TSE:TRI - Get Free Report) NYSE: TRI had its target price lowered by equities researchers at TD Securities from C$305.00 to C$275.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. TD Securities' price target indicates a potential upside of 10.26% from the stock's previous close.

A number of other brokerages have also recently weighed in on TRI. Scotiabank cut shares of Thomson Reuters from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 2nd. Bank of America set a C$255.00 price objective on shares of Thomson Reuters and gave the company a "neutral" rating in a research note on Thursday, April 10th. Canaccord Genuity Group lifted their price objective on shares of Thomson Reuters from C$175.00 to C$181.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. National Bankshares lifted their price objective on shares of Thomson Reuters from C$286.00 to C$300.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Finally, BMO Capital Markets lifted their price objective on shares of Thomson Reuters from C$280.00 to C$308.00 in a research note on Wednesday, July 16th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Thomson Reuters has a consensus rating of "Moderate Buy" and an average target price of C$263.80.

Thomson Reuters Stock Up 0.8%

Shares of TSE:TRI traded up C$2.05 during trading on Thursday, hitting C$249.41. The company's stock had a trading volume of 414,794 shares, compared to its average volume of 355,956. The company has a market capitalization of C$78.79 billion, a PE ratio of 37.56, a P/E/G ratio of 3.64 and a beta of 0.40. The business has a 50 day moving average price of C$272.81 and a two-hundred day moving average price of C$258.01. Thomson Reuters has a fifty-two week low of C$217.20 and a fifty-two week high of C$299.24. The company has a debt-to-equity ratio of 24.28, a quick ratio of 0.52 and a current ratio of 0.94.

Insider Buying and Selling at Thomson Reuters

In related news, Director Michael Parker sold 286 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of C$257.96, for a total transaction of C$73,777.70. Following the transaction, the director owned 594 shares of the company's stock, valued at approximately C$153,230.62. This represents a 32.50% decrease in their ownership of the stock. Also, Director Heather Anne O'hagan sold 875 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of C$267.45, for a total transaction of C$234,019.98. Following the transaction, the director directly owned 631 shares in the company, valued at approximately C$168,761.83. This represents a 58.10% decrease in their position. Insiders have sold 12,762 shares of company stock valued at $3,411,858 over the last three months. Company insiders own 69.76% of the company's stock.

About Thomson Reuters

Thomson Reuters is the result of the $17.6 billion megamerger of Canada's Thomson and the United Kingdom's Reuters Group in 2008 and the 2018 carve-out of its finance and risk business, Refinitiv, in which it holds a 45% stake. In 2019, the company agreed to exchange its 45% stake in Refinitiv for a 15% stake in LSE.

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