Transcontinental (TSE:TCL.A) Trading Up 19.8% – Here’s Why

Transcontinental Inc. (TSE:TCL.A) shares shot up 19.8% during trading on Monday . The stock traded as high as C$25.65 and last traded at C$23.80. 815,604 shares changed hands during mid-day trading, an increase of 318% from the average session volume of 194,945 shares. The stock had previously closed at C$19.87.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TCL.A. Royal Bank Of Canada set a C$26.00 price objective on Transcontinental and gave the company an “outperform” rating in a research report on Wednesday, October 29th. National Bankshares boosted their price target on shares of Transcontinental from C$24.00 to C$28.00 and gave the stock an “outperform” rating in a report on Tuesday. Scotiabank upped their price objective on shares of Transcontinental from C$23.25 to C$26.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Cormark dropped their target price on shares of Transcontinental from C$27.00 to C$26.00 in a research report on Monday, September 8th. Finally, BMO Capital Markets boosted their target price on shares of Transcontinental from C$23.00 to C$27.00 in a research note on Tuesday. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$26.00.

Transcontinental Price Performance

The firm has a market cap of C$2.03 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 6.05 and a beta of 0.79. 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’s fifty day moving average price is C$19.90 and its 200-day moving average price is C$20.15.

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.