Royal Bank Of Canada Forecasts Strong Price Appreciation for TMX Group (TSE:X) Stock

TMX Group (TSE:X) had its target price increased by Royal Bank Of Canada from C$69.00 to C$71.00 in a research report issued on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 36.80% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Scotia boosted their price target on shares of TMX Group from C$70.00 to C$71.00 and gave the company a “sector outperform” rating in a research report on Wednesday, May 6th. Raymond James Financial upped their target price on shares of TMX Group from C$61.50 to C$65.25 and gave the company a “strong-buy” rating in a research report on Friday. Barclays upped their target price on shares of TMX Group from C$52.00 to C$59.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 8th. BMO Capital Markets upped their target price on shares of TMX Group from C$62.00 to C$65.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Finally, National Bank Financial upped their target price on shares of TMX Group from C$63.00 to C$64.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$65.47.

TMX Group Stock Performance

X traded up C$1.42 during trading on Monday, reaching C$51.90. 222,091 shares of the company’s stock were exchanged, compared to its average volume of 866,809. TMX Group has a 1 year low of C$44.10 and a 1 year high of C$57.98. The company has a debt-to-equity ratio of 44.08, a current ratio of 2.35 and a quick ratio of 0.01. The company’s fifty day simple moving average is C$52.44 and its 200-day simple moving average is C$50.53. The stock has a market capitalization of C$14.33 billion, a P/E ratio of 27.17, a price-to-earnings-growth ratio of 12.65 and a beta of -0.20.

Insider Activity

In related news, insider John Mckenzie sold 69,970 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of C$54.71, for a total value of C$3,828,058.70. Following the transaction, the insider owned 100,774 shares in the company, valued at C$5,513,345.54. The trade was a 40.98% decrease in their position. Company insiders own 1.15% of the company’s stock.

TMX Group Company Profile

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.