BMO Capital Markets Lowers Transcontinental (TSE:TCL.A) Price Target to C$6.00

Transcontinental (TSE:TCL.A) had its price objective cut by analysts at BMO Capital Markets from C$6.25 to C$6.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 18.81% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. ATB Cormark Capital Markets cut their price objective on Transcontinental from C$7.00 to C$6.00 and set an “outperform” rating for the company in a research report on Friday. TD Securities cut their price objective on Transcontinental from C$28.00 to C$8.00 and set a “buy” rating for the company in a research report on Tuesday, March 24th. Finally, Canadian Imperial Bank of Commerce cut their price objective on Transcontinental from C$8.00 to C$7.00 and set an “outperformer” rating for the company in a research report on Friday. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$17.00.

Transcontinental Stock Up 7.2%

TSE TCL.A traded up C$0.34 during trading hours on Friday, hitting C$5.05. 501,511 shares of the company traded hands, compared to its average volume of 775,541. The business’s 50-day moving average is C$5.37 and its 200-day moving average is C$16.31. Transcontinental has a twelve month low of C$4.16 and a twelve month high of C$25.65. 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 capitalization of C$422.28 million, a price-to-earnings ratio of 2.92, a P/E/G ratio of 6.05 and a beta of 0.53.

Transcontinental (TSE:TCL.A) last issued its quarterly earnings results on Thursday, June 4th. The company reported C$0.19 EPS for the quarter. Transcontinental had a return on equity of 6.16% and a net margin of 4.05%.The firm had revenue of C$269.20 million during the quarter. Sell-side analysts anticipate that Transcontinental will post 2.439834 earnings per share for the current year.

About Transcontinental

Transcontinental, or TC Transcontinental, is a Canadian printer and flexible packaging provider that operates in three segments: packaging, printing, and other. Its packaging segment features the production of different plastic products geared toward consumer goods. Production plants specialize in extrusion, lamination, printing, and converting. The company offers premedia, printing, and distribution services through the printing segment. Publishers, retailers, cataloguers, and marketers are some of the customers who tap TC Transcontinental for these printing solutions.