TD Securities Forecasts Strong Price Appreciation for Transcontinental (TSE:TCL.A) Stock

Transcontinental (TSE:TCL.A - Get Free Report) had its target price boosted by equities research analysts at TD Securities from C$23.00 to C$26.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. TD Securities' price target would suggest a potential upside of 25.36% from the company's previous close.

A number of other brokerages also recently weighed in on TCL.A. Royal Bank of Canada boosted their target price on Transcontinental from C$24.00 to C$25.00 and gave the stock an "outperform" rating in a research note on Friday. Scotiabank lowered shares of Transcontinental from an "outperform" rating to a "sector perform" rating and boosted their price target for the company from C$22.00 to C$23.25 in a research report on Friday. BMO Capital Markets increased their price objective on Transcontinental from C$20.00 to C$23.00 in a report on Friday. Finally, 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Transcontinental has a consensus rating of "Moderate Buy" and an average target price of C$23.68.

Transcontinental Stock Down 3.5%

Shares of Transcontinental stock traded down C$0.76 on Friday, hitting C$20.74. The company had a trading volume of 129,501 shares, compared to its average volume of 286,617. Transcontinental has a 1 year low of C$14.45 and a 1 year high of C$22.33. 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 stock has a 50 day moving average of C$19.10 and a 200-day moving average of C$18.29. The stock has a market capitalization of C$1.48 billion, a price-to-earnings ratio of 15.59, a P/E/G 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.

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