Thomson Reuters (TSE:TRI) Raised to Strong-Buy at Scotiabank

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 Scotiabank from a "hold" rating to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

A number of other research firms also recently issued reports on TRI. Canaccord Genuity Group lifted their price target on 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 target price on 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. Bank of America set a C$255.00 price target on Thomson Reuters and gave the stock a "neutral" rating in a report on Thursday, April 10th. TD Securities dropped their price objective on 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. Finally, BMO Capital Markets upped their target price on shares of Thomson Reuters from C$280.00 to C$308.00 in a research note on Wednesday, July 16th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Thomson Reuters has an average rating of "Moderate Buy" and a consensus target price of C$263.80.

Thomson Reuters Stock Down 2.6%

Shares of TSE:TRI traded down C$6.37 during trading on Wednesday, reaching C$234.63. 759,370 shares of the stock were exchanged, compared to its average volume of 360,748. Thomson Reuters has a 1-year low of C$217.85 and a 1-year high of C$299.24. The stock has a fifty day moving average of C$271.33 and a two-hundred day moving average of C$258.59. The company has a debt-to-equity ratio of 24.28, a current ratio of 0.94 and a quick ratio of 0.52. The firm has a market cap of C$74.12 billion, a price-to-earnings ratio of 35.33, 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 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 completion of the transaction, the director owned 631 shares in the company, valued at C$168,761.83. This trade represents a 58.10% decrease in their ownership of the stock. Also, Senior Officer Mary Alice Vuicic sold 8,621 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were 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 have 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.