TMX Group (TSE:X) Upgraded to Outperform at National Bank Financial

Key Points

• National Bank Financial upgraded TMX Group to “outperform” from “sector perform,” while lowering its price target to C$63 from C$65—implying about 23% upside from the prior close.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of C$65.36; several firms recently raised their targets.
• TMX Group shares rose to C$51.22, and insider John McKenzie purchased 35,860 shares worth approximately C$2 million, increasing his position by 35.58%.

TMX Group (TSE:X - Get Free Report) was upgraded by investment analysts at National Bank Financial from a "sector perform" rating to an "outperform" rating in a research note issued on Monday,BayStreet.CA reports. The firm presently has a C$63.00 price objective on the stock, down from their previous price objective of C$65.00. National Bank Financial's target price indicates a potential upside of 23.00% from the company's previous close.

Other equities analysts have also issued reports about the stock. Royal Bank Of Canada boosted their price target on shares of TMX Group from C$69.00 to C$71.00 and gave the stock an "outperform" rating in a research report on Monday, June 15th. Raymond James Financial increased their price objective on shares of TMX Group from C$61.50 to C$65.25 and gave the company a "strong-buy" rating in a report on Friday, June 12th. BMO Capital Markets raised their target price on shares of TMX Group from C$62.00 to C$65.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. Canaccord Genuity Group boosted their target price on TMX Group from C$63.00 to C$64.00 and gave the stock a "buy" rating in a report on Monday, June 15th. Finally, Barclays upped their price target on TMX Group from C$58.00 to C$59.00 in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, TMX Group has a consensus rating of "Moderate Buy" and an average price target of C$65.36.

TMX Group Price Performance

X traded up C$1.29 on Monday, hitting C$51.22. 283,134 shares of the company's stock were exchanged, compared to its average volume of 875,077. TMX Group has a fifty-two week low of C$44.10 and a fifty-two week high of C$57.98. The stock has a market cap of C$14.14 billion, a price-to-earnings ratio of 26.82, a P/E/G ratio of 12.65 and a beta of -0.16. The firm has a 50-day moving average price of C$49.68 and a 200-day moving average price of C$49.87. The company has a current ratio of 2.35, a quick ratio of 0.01 and a debt-to-equity ratio of 44.08.

Insider Buying and Selling

In other TMX Group news, insider John Mckenzie purchased 35,860 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were acquired at an average price of C$55.84 per share, with a total value of C$2,002,422.40. Following the purchase, the insider directly owned 136,634 shares in the company, valued at approximately C$7,629,642.56. This trade represents a 35.58% increase in their position. 1.15% of the stock is owned by corporate insiders.

About TMX Group

TMX Group Ltd is a company that operates several global markets to provide investment opportunities for its clients. TMX Group's key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, and Trayport, which provides listing markets, trading markets, clearing facilities, depository services, technology solutions, data products, and other services to the global financial community.

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