Thomson Reuters (TSE:TRI) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Thomson Reuters Co. (TSE:TRI) (NYSE:TRI)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$247.00 and traded as high as C$268.59. Thomson Reuters shares last traded at C$264.98, with a volume of 543,588 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Bank of America set a C$255.00 price target on shares of Thomson Reuters and gave the stock a “neutral” rating in a research note on Thursday, April 10th. Scotiabank downgraded shares of Thomson Reuters from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 2nd. Canaccord Genuity Group raised their price objective on shares of Thomson Reuters from C$175.00 to C$181.00 and gave the stock a “hold” rating in a research report on Friday, May 2nd. Finally, BMO Capital Markets raised their price objective on shares of Thomson Reuters from C$265.00 to C$280.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Thomson Reuters has a consensus rating of “Moderate Buy” and an average price target of C$252.40.

Thomson Reuters Price Performance

The company has a debt-to-equity ratio of 24.28, a quick ratio of 0.52 and a current ratio of 0.94. The company has a market capitalization of C$83.71 billion, a PE ratio of 39.90, a P/E/G ratio of 3.64 and a beta of 0.40. The company’s 50-day simple moving average is C$258.70 and its 200-day simple moving average is C$247.00.

Insider Activity

In other news, Director Kerry Hendrikx sold 1,500 shares of Thomson Reuters stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of C$247.06, for a total value of C$370,591.65. Also, Director Sean Cannizzaro sold 232 shares of Thomson Reuters stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of C$254.69, for a total transaction of C$59,088.73. Following the completion of the sale, the director now directly owns 566 shares in the company, valued at approximately C$144,156.12. The trade was a 29.07% decrease in their position. Insiders have sold a total of 19,258 shares of company stock valued at $4,873,332 over the last quarter. Corporate insiders own 69.76% of the company’s stock.

About Thomson Reuters

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.