Thomson Reuters (NYSE:TRI) Raised to Sector Outperform at Scotiabank

Key Points

• Thomson Reuters was upgraded from "sector perform" to "sector outperform" by Scotiabank, indicating a more favorable outlook for the company.
• Multiple analysts have increased their price targets for Thomson Reuters shares, with Barclays raising it to $210.00 and Wells Fargo to $213.00.
• The stock price saw a significant drop of 9.9%, trading at $179.97, despite analysts maintaining an average "Hold" rating with a consensus price target of $193.00.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI was upgraded by equities research analysts at Scotiabank from a "sector perform" rating to a "sector outperform" rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports.

Several other equities research analysts have also weighed in on the company. Barclays raised their price objective on shares of Thomson Reuters from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Wells Fargo & Company raised their price target on shares of Thomson Reuters from $187.00 to $213.00 and gave the company an "equal weight" rating in a report on Monday, June 16th. Wall Street Zen downgraded Thomson Reuters from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price target on shares of Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada raised their price objective on shares of Thomson Reuters from $185.00 to $215.00 and gave the company a "sector perform" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $193.00.

Thomson Reuters Trading Down 9.9%

TRI traded down $19.85 during trading on Wednesday, hitting $179.97. The company's stock had a trading volume of 4,097,254 shares, compared to its average volume of 849,297. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Thomson Reuters has a twelve month low of $151.60 and a twelve month high of $218.42. The stock's fifty day moving average price is $199.72 and its 200-day moving average price is $184.71. The firm has a market capitalization of $81.10 billion, a P/E ratio of 36.80, a PEG ratio of 5.67 and a beta of 0.77.

Institutional Trading of Thomson Reuters

Large investors have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. grew its position in Thomson Reuters by 772.2% during the 1st quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider's stock worth $27,000 after purchasing an additional 139 shares during the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of Thomson Reuters during the fourth quarter worth about $29,000. Curio Wealth LLC boosted its stake in shares of Thomson Reuters by 16,200.0% in the second quarter. Curio Wealth LLC now owns 163 shares of the business services provider's stock worth $33,000 after acquiring an additional 162 shares during the last quarter. Westside Investment Management Inc. purchased a new stake in shares of Thomson Reuters during the second quarter worth $34,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Thomson Reuters in the second quarter valued at about $37,000. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.

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