Transcontinental (TSE:TCL.A) Stock Passes Above 200 Day Moving Average – What’s Next?

Transcontinental Inc. (TSE:TCL.A)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$21.27 and traded as high as C$23.36. Transcontinental shares last traded at C$23.24, with a volume of 328,448 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TCL.A. Scotiabank lifted their price objective on Transcontinental from C$23.25 to C$26.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 9th. National Bank Financial lifted their price target on shares of Transcontinental from C$24.00 to C$28.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. TD Securities upped their price objective on shares of Transcontinental from C$27.00 to C$28.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. BMO Capital Markets raised their target price on shares of Transcontinental from C$23.00 to C$27.00 in a research report on Tuesday, December 9th. Finally, Royal Bank Of Canada lifted their target price on shares of Transcontinental from C$26.00 to C$29.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$27.33.

Transcontinental Stock Performance

The company has a 50 day moving average of C$23.15 and a two-hundred day moving average of C$21.27. 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 company has a market capitalization of C$1.94 billion, a PE ratio of 11.39, a PEG ratio of 6.05 and a beta of 0.78.

Transcontinental (TSE:TCL.A) last announced its earnings results on Thursday, December 11th. The company reported C$0.82 EPS for the quarter. The firm had revenue of C$732.40 million for the quarter. Transcontinental had a net margin of 4.05% and a return on equity of 6.16%. As a group, equities research analysts predict that Transcontinental Inc. will post 2.439834 earnings per share for the current 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.