National Bank Financial Lowers Transcontinental (TSE:TCL.A) Price Target to C$7.00

Key Points

• National Bank Financial cut Transcontinental’s price target to C$7.00 from C$8.00 while maintaining an “outperform” rating, implying 43.74% upside from the prior close.
• Several analysts have recently lowered their targets, but the stock retains a “Moderate Buy” consensus rating, with five Buy ratings, two Holds, and an average target of C$9.71.
• Transcontinental shares fell 7.6% to C$4.87, near their 12-month low of C$4.16, amid trading volume above the recent average.

Transcontinental (TSE:TCL.A - Get Free Report) had its price objective decreased by research analysts at National Bank Financial from C$8.00 to C$7.00 in a report issued on Thursday, BayStreet reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's target price indicates a potential upside of 43.74% from the company's previous close.

TCL.A has been the topic of a number of other reports. Royal Bank Of Canada reduced their price target on shares of Transcontinental from C$9.00 to C$8.00 and set an "outperform" rating on the stock in a research report on Monday, June 8th. ATB Cormark Capital Markets decreased their target price on Transcontinental from C$7.00 to C$6.00 and set an "outperform" rating for the company in a research note on Friday, June 5th. BMO Capital Markets dropped their price target on Transcontinental from C$6.25 to C$6.00 and set a "market perform" rating on the stock in a research report on Friday, June 5th. Finally, Canadian Imperial Bank of Commerce dropped their target price on shares of Transcontinental from C$8.00 to C$7.00 and set an "outperformer" rating on the stock in a report on Friday, June 5th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$9.71.

Transcontinental Trading Down 7.6%

Shares of TCL.A stock traded down C$0.40 on Thursday, reaching C$4.87. The company had a trading volume of 908,093 shares, compared to its average volume of 623,647. The stock has a market cap of C$407.22 million, a PE ratio of 1.22, a PEG ratio of 6.05 and a beta of 0.48. The company has a 50-day moving average of C$5.43 and a 200-day moving average of C$8.01. 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 has a 12 month low of C$4.16 and a 12 month high of C$25.65.

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. 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.

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