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

Transcontinental Inc. (TSE:TCL.A) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$21.27 and traded as high as C$23.36. Transcontinental shares last traded at C$23.24, with a volume of 328,448 shares traded.

Analyst Upgrades and Downgrades

TCL.A has been the subject of a number of analyst reports. Royal Bank Of Canada raised their price objective on Transcontinental from C$26.00 to C$29.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. BMO Capital Markets increased their target price on Transcontinental from C$23.00 to C$27.00 in a research note on Tuesday, December 9th. Scotiabank raised their price target on Transcontinental from C$23.25 to C$26.00 and gave the company a “sector perform” rating in a report on Tuesday, December 9th. TD Securities lifted their price target on Transcontinental from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Finally, National Bank Financial increased their price objective on shares of Transcontinental from C$24.00 to C$28.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$27.33.

Transcontinental Stock Performance

The company has a quick ratio of 1.09, a current ratio of 1.49 and a debt-to-equity ratio of 54.12. The stock has a market capitalization of C$1.94 billion, a P/E ratio of 11.39, a P/E/G ratio of 6.05 and a beta of 0.78. The business has a fifty day moving average price of C$23.15 and a 200-day moving average price of C$21.27.

Transcontinental (TSE:TCL.A) last issued its earnings results on Thursday, December 11th. The company reported C$0.82 earnings per share for the quarter. The business had revenue of C$732.40 million during the quarter. Transcontinental had a return on equity of 6.16% and a net margin of 4.05%. On average, sell-side analysts expect that Transcontinental Inc. will post 2.439834 EPS 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.