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

TMX Group (TSE:X) had its price objective hoisted by equities researchers at Royal Bank Of Canada from C$69.00 to C$71.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 36.80% from the stock’s current price.

X has been the topic of a number of other reports. 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 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 report on Friday. 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 report on Tuesday, May 5th. Scotia increased their price target on TMX Group from C$70.00 to C$71.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, May 6th. Finally, Barclays increased their price target on TMX Group from C$52.00 to C$59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$65.47.

TMX Group Price Performance

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

Insider Transactions at TMX Group

In related news, insider John Mckenzie purchased 35,860 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was purchased at an average cost of C$55.84 per share, for a total transaction of C$2,002,422.40. Following the acquisition, the insider owned 136,634 shares in the company, valued at approximately C$7,629,642.56. This trade represents a 35.58% increase in their ownership of the stock. Company insiders own 1.15% of the company’s stock.

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.