Thomson Reuters (TSE:TRI) Rating Increased to Strong-Buy at Cibc World Mkts

Key Points

• Thomson Reuters has been upgraded from a "hold" rating to a "strong-buy" rating by Cibc World Mkts, indicating a shift in analysts' outlook towards the stock.
• Several analysts have recently changed their price targets, with TD Securities lowering theirs to C$275.00, while BMO Capital Markets raised theirs to C$308.00, reflecting varied perspectives on the company's performance.
• The stock recently traded at C$243.80, with a twelve-month low of C$217.85 and a high of C$299.24, showcasing its recent volatility in the market.

Thomson Reuters (TSE:TRI - Get Free Report) NYSE: TRI was upgraded by research analysts at Cibc World Mkts from a "hold" rating to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on TRI. Scotiabank upgraded shares of Thomson Reuters from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. TD Securities decreased their target price on shares of Thomson Reuters from C$305.00 to C$275.00 and set a "hold" rating on the stock in a research note on Thursday, August 7th. National Bankshares raised their target price on shares of Thomson Reuters from C$286.00 to C$300.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. BMO Capital Markets raised their target price on shares of Thomson Reuters from C$280.00 to C$308.00 in a research note on Wednesday, July 16th. Finally, Canaccord Genuity Group raised their target price on shares of Thomson Reuters from C$175.00 to C$181.00 and gave the stock a "hold" rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$263.80.

Thomson Reuters Stock Performance

TSE TRI traded up C$1.99 on Tuesday, reaching C$246.86. 512,922 shares of the stock were exchanged, compared to its average volume of 367,263. Thomson Reuters has a one year low of C$217.85 and a one year high of C$299.24. The firm has a market capitalization of C$77.99 billion, a PE ratio of 37.17, a PEG ratio of 3.64 and a beta of 0.40. The company's 50-day simple moving average is C$266.52 and its two-hundred day simple moving average is C$258.20. The company has a current ratio of 0.94, a quick ratio of 0.52 and a debt-to-equity ratio of 24.28.

Insiders Place Their Bets

In related news, Senior Officer Elizabeth Beastrom sold 2,848 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of C$262.48, for a total value of C$747,543.04. Also, Senior Officer Mary Alice Vuicic sold 8,621 shares of Thomson Reuters stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of C$269.21, for a total transaction of C$2,320,816.31. Over the last three months, insiders sold 11,601 shares of company stock valued at $3,104,060. 69.76% of the stock is currently owned by insiders.

Thomson Reuters Company Profile

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.