Transcontinental (TSE:TCL.A) Shares Pass Above 200 Day Moving Average – What’s Next?

Transcontinental Inc. (TSE:TCL.A)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$17.08 and traded as high as C$18.41. Transcontinental shares last traded at C$18.29, with a volume of 1,541,912 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. TD Securities set a C$23.00 target price on Transcontinental and gave the company a “buy” rating in a research report on Tuesday, January 21st. BMO Capital Markets boosted their target price on Transcontinental from C$18.00 to C$20.00 in a research note on Friday, December 13th. National Bankshares boosted their target price on Transcontinental from C$21.00 to C$23.00 in a research note on Friday, December 13th. Royal Bank of Canada boosted their price objective on Transcontinental from C$22.00 to C$23.00 in a research note on Tuesday, December 10th. Finally, CIBC boosted their target price on Transcontinental from C$20.00 to C$21.00 in a research report on Monday, December 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$22.21.

Transcontinental Trading Down 0.7 %

The company has a market cap of C$1.30 billion, a PE ratio of 13.75, a PEG ratio of 6.05 and a beta of 0.98. The company has a current ratio of 1.49, a quick ratio of 1.09 and a debt-to-equity ratio of 54.12. The stock has a 50 day moving average price of C$17.88 and a 200 day moving average price of C$17.08.

Transcontinental Company Profile

Transcontinental Inc engages in flexible packaging business in Canada, the United States, Latin America, the United Kingdom, Australia, and New Zealand. It operates through three segments: Packaging, Printing, and Media. The Packaging segment engages in extrusion, lamination, printing, and converting activities, as well as offers flexible plastic and paper products, including rollstock, bags and pouches, coextruded films, shrink films and bags, and advanced coatings.