CIBC Raises TMX Group (TSE:X) Price Target to C$40.00

TMX Group (TSE:X) had its price target hoisted by stock analysts at CIBC from C$38.00 to C$40.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. CIBC’s price objective suggests a potential upside of 7.50% from the stock’s current price.

Other analysts have also recently issued reports about the company. Royal Bank of Canada raised their target price on TMX Group from C$36.00 to C$38.00 and gave the company a “sector perform” rating in a research report on Monday. BMO Capital Markets upgraded TMX Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from C$36.00 to C$41.00 in a research report on Monday, March 25th. Canaccord Genuity Group set a C$44.00 target price on TMX Group and gave the stock a “buy” rating in a report on Friday, April 26th. Barclays lifted their target price on TMX Group from C$35.00 to C$38.00 in a report on Monday, April 8th. Finally, Scotiabank raised their target price on TMX Group from C$38.00 to C$39.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, TMX Group presently has a consensus rating of “Hold” and an average price target of C$39.38.

TMX Group Price Performance

TSE:X traded up C$0.70 on Friday, reaching C$37.21. 391,067 shares of the company’s stock traded hands, compared to its average volume of 350,080. The company has a quick ratio of 0.01, a current ratio of 1.00 and a debt-to-equity ratio of 26.67. The stock has a 50-day simple moving average of C$35.45 and a 200-day simple moving average of C$32.69. The firm has a market cap of C$10.29 billion, a PE ratio of 29.07, a P/E/G ratio of 12.65 and a beta of 0.39. TMX Group has a 12 month low of C$27.74 and a 12 month high of C$37.59.

TMX Group (TSE:X) last issued its earnings results on Monday, February 5th. The company reported C$0.37 EPS for the quarter, hitting analysts’ consensus estimates of C$0.37. The business had revenue of C$301.50 million for the quarter, compared to the consensus estimate of C$300.05 million. TMX Group had a net margin of 12.28% and a return on equity of 9.10%. Equities research analysts forecast that TMX Group will post 1.6194927 earnings per share for the current year.

Insider Buying and Selling at TMX Group

In related news, Senior Officer Luc Fortin sold 15,140 shares of TMX Group stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of C$35.32, for a total value of C$534,744.80. In other news, Senior Officer Jayakumar Rajarathinam sold 95,750 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of C$33.78, for a total value of C$3,234,636.08. Also, Senior Officer Luc Fortin sold 15,140 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of C$35.32, for a total value of C$534,744.80. Company insiders own 5.57% of the company’s stock.

About TMX Group

TMX Group Limited operates exchanges, markets, and clearinghouses primarily for capital markets in Canada, the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Global Solutions, Insights & Analytics; Capital Formation; Derivatives Trading & Clearing; and Equities and Fixed Income Trading & Clearing.