Thomson Reuters (NYSE:TRI) Sees Unusually-High Trading Volume – Here’s Why

Shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) saw an uptick in trading volume on Tuesday . 464,877 shares traded hands during trading, an increase of 32% from the previous session’s volume of 353,153 shares.The stock last traded at $170.56 and had previously closed at $165.02.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TRI. JPMorgan Chase & Co. upped their price objective on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Royal Bank of Canada increased their price target on Thomson Reuters from $168.00 to $171.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Finally, Scotiabank upgraded Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $164.00 to $182.00 in a research note on Tuesday, August 27th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $175.56.

Thomson Reuters Trading Up 3.3 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. The business has a fifty day simple moving average of $168.79 and a 200 day simple moving average of $166.46. The stock has a market capitalization of $76.68 billion, a price-to-earnings ratio of 31.67, a price-to-earnings-growth ratio of 5.54 and a beta of 0.73.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new stake in shares of Thomson Reuters during the 2nd quarter worth $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of Thomson Reuters by 76.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after purchasing an additional 80 shares in the last quarter. Asset Dedication LLC grew its holdings in shares of Thomson Reuters by 125.0% during the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock worth $40,000 after purchasing an additional 130 shares in the last quarter. Clean Yield Group acquired a new stake in shares of Thomson Reuters during the 3rd quarter worth $42,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Thomson Reuters during the 3rd quarter worth $47,000. 17.31% of the stock is owned by institutional investors and hedge funds.

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.