Transcontinental (TSE:TCL.A) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Transcontinental Inc. (TSE:TCL.A) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$17.08 and traded as high as C$18.41. Transcontinental shares last traded at C$18.29, with a volume of 1,541,912 shares changing hands.

Analyst Upgrades and Downgrades

TCL.A has been the subject of a number of research analyst reports. BMO Capital Markets raised their target price on Transcontinental from C$18.00 to C$20.00 in a research note on Friday, December 13th. TD Securities set a C$23.00 price target on shares of Transcontinental and gave the company a “buy” rating in a research note on Tuesday, January 21st. Scotiabank raised their price target on shares of Transcontinental from C$19.50 to C$22.00 in a research note on Friday, December 13th. CIBC raised their target price on shares of Transcontinental from C$20.00 to C$21.00 in a research note on Monday, December 16th. Finally, National Bankshares lifted their price target on shares of Transcontinental from C$21.00 to C$23.00 in a research report on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$22.21.

Transcontinental Trading Down 0.7 %

The company has a debt-to-equity ratio of 54.12, a current ratio of 1.49 and a quick ratio of 1.09. The business’s 50 day moving average price is C$17.88 and its 200-day moving average price is C$17.08. The firm has a market capitalization of C$1.30 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 6.05 and a beta of 0.98.

Transcontinental Company Profile

Transcontinental Inc engages in flexible packaging business in Canada, the United States, Latin America, the United Kingdom, Australia, and New Zealand. It operates through three segments: Packaging, Printing, and Media. The Packaging segment engages in extrusion, lamination, printing, and converting activities, as well as offers flexible plastic and paper products, including rollstock, bags and pouches, coextruded films, shrink films and bags, and advanced coatings.