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

Transcontinental Inc. (TSE:TCL.A)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$5.30 and traded as high as C$5.69. Transcontinental shares last traded at C$5.39, with a volume of 582,804 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently commented on TCL.A shares. 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 report on Friday, June 5th. Royal Bank Of Canada cut their price target on shares of Transcontinental from C$9.00 to C$8.00 and set an “outperform” rating for the company in a research note on Monday, June 8th. BMO Capital Markets decreased their price target on shares of Transcontinental from C$6.25 to C$6.00 and set a “market perform” rating on the stock in a report on Friday, June 5th. Canadian Imperial Bank of Commerce dropped their price objective on shares of Transcontinental from C$8.00 to C$7.00 and set an “outperformer” rating for the company in a report on Friday, June 5th. Finally, TD Securities cut their target price on shares of 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. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Transcontinental has an average rating of “Moderate Buy” and a consensus target price of C$14.38.

Transcontinental Stock Performance

The company has a market cap of C$450.71 million, a P/E ratio of 1.35, a price-to-earnings-growth ratio of 6.05 and a beta of 0.44. The company’s fifty day moving average is C$5.30 and its 200 day moving average is C$13.73. The company has a current ratio of 1.49, a quick ratio of 1.09 and a debt-to-equity ratio of 54.12.

Transcontinental (TSE:TCL.A) last posted its quarterly earnings results on Thursday, June 4th. The company reported C$0.19 earnings per share (EPS) for the quarter. Transcontinental had a net margin of 4.05% and a return on equity of 6.16%. The business had revenue of C$269.20 million during the quarter. As a group, equities analysts predict that Transcontinental Inc. will post 2.439834 earnings per share for the current fiscal 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.