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

Transcontinental Inc. (TSE:TCL.A) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$20.08 and traded as high as C$20.18. Transcontinental shares last traded at C$19.69, with a volume of 88,287 shares traded.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TCL.A shares. Cormark reduced their price objective on Transcontinental from C$27.00 to C$26.00 in a research note on Monday, September 8th. TD Securities lifted their target price on Transcontinental from C$26.00 to C$27.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Finally, Royal Bank Of Canada set a C$26.00 target price on Transcontinental and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Transcontinental presently has a consensus rating of “Moderate Buy” and an average target price of C$24.32.

Transcontinental Price Performance

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 company has a market capitalization of C$1.68 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 6.05 and a beta of 0.83. The stock’s 50-day moving average is C$19.55 and its two-hundred day moving average is C$20.09.

Transcontinental Company Profile

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.