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

TMX Group (TSE:X) had its target price hoisted by equities researchers at Canaccord Genuity Group from C$63.00 to C$64.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 23.31% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Raymond James Financial boosted their price objective on TMX Group from C$61.50 to C$65.25 and gave the stock a “strong-buy” rating in a research report on Friday. Barclays boosted their price objective on TMX Group from C$52.00 to C$59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. Royal Bank Of Canada boosted their price objective on TMX Group from C$69.00 to C$71.00 and gave the stock an “outperform” rating in a research report on Monday. National Bank Financial boosted their price objective on TMX Group from C$63.00 to C$64.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 5th. Finally, Scotia boosted their price objective on TMX Group from C$70.00 to C$71.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$65.47.

TMX Group Stock Performance

X stock traded up C$1.42 during midday trading on Monday, hitting 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’s 50-day moving average price is C$52.44 and its 200 day moving average price is C$50.53. The company has a quick ratio of 0.01, a current ratio of 2.35 and a debt-to-equity ratio of 44.08. TMX Group has a 1 year low of C$44.10 and a 1 year high of C$57.98. The stock 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.

Insider Activity

In related news, insider John Mckenzie acquired 35,860 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average cost of C$55.84 per share, for a total transaction of C$2,002,422.40. Following the purchase, the insider owned 136,634 shares in the company, valued at C$7,629,642.56. This trade represents a 35.58% increase in their position. 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.