Transcontinental (TSE:TCL.A) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Key Points

• ATB Cormark raised Transcontinental’s price target to C$7.00 from C$6.00 and maintained an “outperform” rating, implying 38.07% upside from the prior close.
• Analyst sentiment remains positive, with five Buy ratings and two Holds; MarketBeat reports a consensus “Moderate Buy” rating and a C$9.86 average price target.
• Transcontinental shares rose 4.3% to C$5.07, though the stock remains well below its 200-day moving average of C$7.88 and its 12-month high of C$25.65.

Transcontinental (TSE:TCL.A - Get Free Report) had its target price upped by investment analysts at ATB Cormark Capital Markets from C$6.00 to C$7.00 in a research report issued on Friday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price target suggests a potential upside of 38.07% from the stock's previous close.

TCL.A has been the topic of several other research reports. Canadian Imperial Bank of Commerce cut their target price on Transcontinental from C$8.00 to C$7.00 and set an "outperformer" rating on the stock in a research note on Friday, June 5th. 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 for the company in a research report on Friday, June 5th. National Bank Financial lowered their price target on shares of Transcontinental from C$8.00 to C$7.00 and set an "outperform" rating on the stock in a report on Thursday. Finally, Royal Bank Of Canada cut their price objective 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. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Transcontinental has a consensus rating of "Moderate Buy" and a consensus price target of C$9.86.

Transcontinental Stock Up 4.3%

TSE TCL.A traded up C$0.21 on Friday, reaching C$5.07. 196,514 shares of the stock traded hands, compared to its average volume of 622,801. 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 company has a market cap of C$423.95 million, a price-to-earnings ratio of 1.27, a PEG ratio of 6.05 and a beta of 0.48. The company has a fifty day moving average price of C$5.41 and a 200-day moving average price of C$7.88. 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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