Transcontinental (TSE:TCL.A) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Transcontinental Inc. (TSE:TCL.A)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$17.47 and traded as high as C$18.68. Transcontinental shares last traded at C$18.40, with a volume of 307,160 shares traded.

Analysts Set New Price Targets

A number of brokerages have weighed in on TCL.A. BMO Capital Markets boosted their target price on Transcontinental from C$18.00 to C$20.00 in a research report on Friday, December 13th. TD Securities set a C$23.00 target price on Transcontinental and gave the stock a “buy” rating in a research report on Thursday, January 30th. Scotiabank boosted their target price on Transcontinental from C$19.50 to C$22.00 in a research report on Friday, December 13th. Royal Bank of Canada boosted their target price on Transcontinental from C$22.00 to C$23.00 in a research report on Tuesday, December 10th. Finally, National Bankshares upped their price target on shares of Transcontinental from C$21.00 to C$23.00 in a research report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Transcontinental presently has a consensus rating of “Moderate Buy” and an average target price of C$22.21.

Transcontinental Stock Up 6.9 %

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 firm has a market capitalization of C$1.31 billion, a P/E ratio of 13.83, a P/E/G ratio of 6.05 and a beta of 0.98. The company has a 50 day simple moving average of C$17.78 and a two-hundred day simple moving average of C$17.47.

About Transcontinental

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.