Jefferies Financial Group Issues Positive Forecast for Toronto-Dominion Bank (TSE:TD) Stock Price

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) had its price objective upped by equities researchers at Jefferies Financial Group from C$159.00 to C$164.00 in a research note issued on Friday,BayStreet.CA reports. Jefferies Financial Group’s price target indicates a potential downside of 2.53% from the stock’s previous close.

Several other equities research analysts have also weighed in on TD. Scotiabank boosted their price objective on Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the company a “sector outperform” rating in a research note on Tuesday, June 16th. National Bank Financial set a C$190.00 target price on shares of Toronto-Dominion Bank and gave the stock an “outperform” rating in a research report on Monday. Raymond James Financial increased their target price on shares of Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Desjardins lifted their target price on shares of Toronto-Dominion Bank from C$160.00 to C$183.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Canadian Imperial Bank of Commerce boosted their price target on shares of Toronto-Dominion Bank from C$164.00 to C$184.00 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$170.00.

Toronto-Dominion Bank Stock Performance

TSE:TD traded up C$0.41 during trading hours on Friday, reaching C$168.25. The stock had a trading volume of 1,043,349 shares, compared to its average volume of 5,520,668. The stock has a market cap of C$277.96 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 1.22 and a beta of 0.88. The stock has a 50 day simple moving average of C$169.31 and a 200 day simple moving average of C$151.43. Toronto-Dominion Bank has a 12-month low of C$100.43 and a 12-month high of C$175.33.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last issued its quarterly earnings results on Thursday, August 27th. The company reported C$2.77 EPS for the quarter. The firm had revenue of C$16.93 billion for the quarter. Toronto-Dominion Bank had a return on equity of 11.85% and a net margin of 13.21%. On average, equities analysts expect that Toronto-Dominion Bank will post 7.2160149 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kelvin Vi Luan Tran sold 8,498 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of C$156.61, for a total value of C$1,330,871.78. Following the transaction, the insider owned 26,677 shares of the company’s stock, valued at approximately C$4,177,884.97. This represents a 24.16% decrease in their ownership of the stock. Also, insider Paul Martyn Clark sold 27,649 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of C$161.22, for a total transaction of C$4,457,571.78. Following the completion of the transaction, the insider directly owned 260 shares in the company, valued at approximately C$41,917.20. The trade was a 99.07% decrease in their position. 0.08% of the stock is owned by insiders.

About Toronto-Dominion Bank

TD Asset Management Inc (‘TDAM’), a member of TD Bank Group, is a Canadian investment management firm with a growing global presence. Bringing together three decades of investment experience, our broad selection of strategies and solutions includes fundamental equities, quantitative and passive equities, fixed income across the credit quality spectrum and alternatives, such as private credit, infrastructure and real estate. TDAM offers institutional investment solutions to corporations, pension funds, endowments and foundations, sovereign wealth funds and superannuation funds, among others.