Transcontinental (TSE:TCL.A) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Transcontinental Inc. (TSE:TCL.A)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$17.21 and traded as high as C$18.49. Transcontinental shares last traded at C$18.02, with a volume of 201,714 shares.

Analysts Set New Price Targets

A number of brokerages have issued reports on TCL.A. Royal Bank of Canada increased their target price on shares of Transcontinental from C$22.00 to C$23.00 in a research report on Tuesday, December 10th. TD Securities set a C$23.00 price objective on Transcontinental and gave the stock a “buy” rating in a research note on Thursday, January 30th. Scotiabank lifted their price objective on Transcontinental from C$19.50 to C$22.00 in a report on Friday, December 13th. CIBC increased their target price on Transcontinental from C$20.00 to C$21.00 in a report on Monday, December 16th. Finally, BMO Capital Markets boosted their price target on Transcontinental from C$18.00 to C$20.00 in a research note on Friday, December 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Transcontinental has an average rating of “Moderate Buy” and a consensus price target of C$22.21.

Transcontinental Stock Performance

The company has a debt-to-equity ratio of 54.12, a quick ratio of 1.09 and a current ratio of 1.49. The stock has a market cap of C$1.29 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 6.05 and a beta of 0.98. The stock has a fifty day simple moving average of C$18.03 and a two-hundred day simple moving average of C$17.21.

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.