Thomson Reuters (TSE:TRI) Upgraded by Scotiabank to "Strong-Buy" Rating

Key Points

• Thomson Reuters has been upgraded by Scotiabank from a "hold" rating to a "strong-buy" rating, signaling increased analyst confidence in the stock.
• The average target price for Thomson Reuters shares is now C$263.80, with a mix of ratings including four hold, two buy, and two strong buy from analysts.
• Despite recent upgrades, insider transactions show that company insiders sold 12,762 shares valued at over C$3.4 million in the last three months.

Thomson Reuters (TSE:TRI - Get Free Report) NYSE: TRI was upgraded by research analysts at Scotiabank from a "hold" rating to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

Several other research firms have also commented on TRI. Canaccord Genuity Group increased 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 report on Friday, May 2nd. National Bankshares increased 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 report 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 report on Wednesday, July 16th. TD Securities lowered their target price on shares of Thomson Reuters from C$305.00 to C$275.00 and set a "hold" rating for the company in a report on Thursday. Finally, Bank of America set a C$255.00 target price on shares of Thomson Reuters and gave the stock a "neutral" rating in a report on Thursday, April 10th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Thomson Reuters presently has an average rating of "Moderate Buy" and a consensus price target of C$263.80.

Thomson Reuters Price Performance

Shares of TSE:TRI traded down C$2.31 during midday trading on Wednesday, reaching C$247.39. 313,697 shares of the company were exchanged, compared to its average volume of 356,994. The company has a current ratio of 0.94, a quick ratio of 0.52 and a debt-to-equity ratio of 24.28. The business's fifty day moving average is C$271.92 and its two-hundred day moving average is C$258.54. Thomson Reuters has a one year low of C$217.85 and a one year high of C$299.24. The stock has a market cap of C$78.15 billion, a PE ratio of 37.25, a price-to-earnings-growth ratio of 3.64 and a beta of 0.40.

Insider Activity at Thomson Reuters

In other Thomson Reuters news, Director Heather Anne O'hagan sold 875 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of C$267.45, for a total transaction of C$234,019.98. Following the transaction, the director owned 631 shares of the company's stock, valued at approximately C$168,761.83. This trade represents a 58.10% decrease in their position. Also, Senior Officer Mary Alice Vuicic sold 8,621 shares of Thomson Reuters stock in a transaction that occurred 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 quarter, insiders sold 12,762 shares of company stock worth $3,411,858. 69.76% of the stock is currently owned by corporate 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.