Transcontinental (TSE:TCL.A) Rating Lowered to Sector Perform at Scotiabank

Scotiabank lowered shares of Transcontinental (TSE:TCL.A) from an outperform rating to a sector perform rating in a report issued on Friday,BayStreet.CA reports. Scotiabank currently has C$23.25 target price on the stock, up from their previous target price of C$22.00.

Several other research firms have also commented on TCL.A. Royal Bank of Canada raised their price target on shares of Transcontinental from C$24.00 to C$25.00 and gave the company an “outperform” rating in a report on Friday. National Bankshares raised their price target on shares of Transcontinental from C$23.00 to C$24.00 and gave the company an “outperform” rating in a report on Friday. TD Securities raised their price target on shares of Transcontinental from C$22.00 to C$23.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. Finally, BMO Capital Markets raised their price target on shares of Transcontinental from C$20.00 to C$23.00 in a report on Friday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$23.68.

Transcontinental Trading Down 1.8%

TSE TCL.A opened at C$21.11 on Friday. Transcontinental has a one year low of C$14.45 and a one year high of C$22.33. The company’s 50 day moving average price is C$19.10 and its 200 day moving average price is C$18.29. The company has a debt-to-equity ratio of 54.12, a quick ratio of 1.09 and a current ratio of 1.49. The firm has a market capitalization of C$1.51 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 6.05 and a beta of 0.98.

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.