Thomson Reuters (TSE:TRI) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Thomson Reuters Co. (TSE:TRI - Get Free Report) NYSE: TRI's stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$247.00 and traded as high as C$268.59. Thomson Reuters shares last traded at C$264.98, with a volume of 543,588 shares.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Scotiabank cut shares of Thomson Reuters from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 2nd. Canaccord Genuity Group increased their price objective on shares of Thomson Reuters from C$175.00 to C$181.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. BMO Capital Markets raised their price target on shares of Thomson Reuters from C$265.00 to C$280.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Bank of America set a C$255.00 price target on shares of Thomson Reuters and gave the company a "neutral" rating in a research report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$252.40.

Thomson Reuters Price Performance

The company has a debt-to-equity ratio of 24.28, a quick ratio of 0.52 and a current ratio of 0.94. The company has a market cap of C$83.71 billion, a PE ratio of 39.90, a PEG ratio of 3.64 and a beta of 0.40. The company's 50-day simple moving average is C$258.70 and its 200 day simple moving average is C$247.00.

Insider Activity

In other news, Senior Officer Kirsty Roth sold 16,233 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of C$252.58, for a total value of C$4,100,153.87. Also, Director Sean Cannizzaro sold 232 shares of Thomson Reuters stock in a transaction on Friday, May 2nd. The stock was sold at an average price of C$254.69, for a total transaction of C$59,088.73. Following the sale, the director now owns 566 shares in the company, valued at C$144,156.12. This represents a 29.07% decrease in their ownership of the stock. In the last three months, insiders have sold 19,258 shares of company stock worth $4,873,332. 69.76% of the stock is currently owned by corporate insiders.

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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