Trisura Group (TSE:TSU) Share Price Crosses Below Fifty Day Moving Average - Time to Sell?

Key Points

• Trisura Group shares fell below their 50-day moving average, trading as low as C$41.26 and last changing hands at C$41.39, down 2.2%. The stock’s 50-day and 200-day moving averages were C$43.16 and C$43.61, respectively.
• Despite the technical weakness, analysts remain broadly positive, with five Buy ratings and one Hold rating. The consensus rating is “Moderate Buy,” with an average price target of C$56.61.
• Trisura reported quarterly EPS of C$0.76 on revenue of C$198.42 million, while director Eileen Marie Sweeney sold 34,800 shares worth approximately C$1.42 million. Insiders own 1.09% of the company.

Trisura Group Ltd. (TSE:TSU - Get Free Report) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$43.16 and traded as low as C$41.26. Trisura Group shares last traded at C$41.39, with a volume of 78,058 shares.

Wall Street Analysts Forecast Growth

TSU has been the subject of several recent analyst reports. Scotiabank cut Trisura Group from a "sector outperform" rating to a "sector perform" rating and set a C$52.00 target price for the company. in a research note on Tuesday, April 28th. Desjardins set a C$60.00 price objective on Trisura Group and gave the stock a "buy" rating in a report on Monday, April 27th. ATB Cormark Capital Markets dropped their price objective on shares of Trisura Group from C$55.00 to C$51.00 and set an "outperform" rating for the company in a report on Tuesday, July 28th. Raymond James Financial lifted their target price on shares of Trisura Group from C$57.00 to C$57.25 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Finally, National Bank Financial raised their price objective on shares of Trisura Group from C$59.00 to C$60.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$56.61.

Trisura Group Stock Down 2.2%

The firm has a market cap of C$1.96 billion, a PE ratio of 12.81 and a beta of 0.58. The business has a 50 day simple moving average of C$43.16 and a two-hundred day simple moving average of C$43.61.

Trisura Group (TSE:TSU - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$0.76 earnings per share (EPS) for the quarter. The company had revenue of C$198.42 million for the quarter. Trisura Group had a return on equity of 16.54% and a net margin of 4.80%. Equities analysts forecast that Trisura Group Ltd. will post 3.1349036 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Eileen Marie Sweeney sold 34,800 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of C$40.84, for a total value of C$1,421,232.00. Following the sale, the director owned 139,710 shares in the company, valued at C$5,705,756.40. This represents a 19.94% decrease in their ownership of the stock. Company insiders own 1.09% of the company's stock.

About Trisura Group

Trisura Group Ltd is a Canadian based company engages in the provision of specialty insurance. The company's operations currently include specialty property and casualty insurance (Surety, Risk Solutions, and Corporate Insurance business lines), underwritten predominantly in Canada. The operating business segments are Trisura Guarantee, Trisura Specialty, and Trisura International. The Trisura Guarantee segment generates maximum revenue, which offers Surety, Risk Solutions and Corporate Insurance products underwritten in Canada as well as the operations of Trisura Warranty.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source