Canaccord Genuity Group Forecasts Strong Price Appreciation for TMX Group (TSE:X) Stock

TMX Group (TSE:X) had its target price upped by research analysts at Canaccord Genuity Group from C$63.00 to C$64.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 23.31% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. National Bank Financial upped their target price on TMX Group from C$63.00 to C$64.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 5th. BMO Capital Markets upped their target price on 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. Royal Bank Of Canada upped their target price on TMX Group from C$69.00 to C$71.00 and gave the stock an “outperform” rating in a research note on Monday. Raymond James Financial upped their target price on TMX Group from C$61.50 to C$65.25 and gave the stock a “strong-buy” rating in a research note on Friday. Finally, Scotia upped their target price 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. One analyst has rated the stock with a Strong Buy rating, five have issued 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 an average target price of C$65.47.

TMX Group Price Performance

TSE X traded up C$1.42 during trading on Monday, reaching C$51.90. The company’s stock had a trading volume of 222,091 shares, compared to its average volume of 866,809. The stock has a market capitalization of C$14.33 billion, a PE ratio of 27.17, a P/E/G ratio of 12.65 and a beta of -0.20. 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 firm has a fifty day moving average of C$52.44 and a 200 day moving average of C$50.53. TMX Group has a one year low of C$44.10 and a one year high of C$57.98.

Insiders Place Their Bets

In related news, insider John Mckenzie bought 35,860 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was bought 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 directly owned 136,634 shares of the company’s stock, valued at C$7,629,642.56. The trade was a 35.58% increase in their position. 1.15% of the stock is owned by corporate insiders.

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.