Transcontinental (TSE:TCL.A) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Transcontinental Inc.'s stock has recently surpassed its 200-day moving average, trading as high as C$20.35, with its last recorded price at C$20.16.
• Analyst ratings are largely positive, with several firms increasing their target prices, leading to an average target price of C$23.71 and a consensus rating of "Moderate Buy."
• The company operates as a Canadian printer and flexible packaging provider, focusing on packaging, printing, and other segments in its business model.

Transcontinental Inc. (TSE:TCL.A - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$18.99 and traded as high as C$20.35. Transcontinental shares last traded at C$20.16, with a volume of 167,850 shares trading hands.

Wall Street Analysts Forecast Growth

TCL.A has been the subject of a number of recent analyst reports. TD Securities lifted their price target on Transcontinental from C$23.00 to C$26.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Royal Bank Of Canada upped their price objective on Transcontinental from C$24.00 to C$25.00 and gave the company an "outperform" rating in a research note on Friday, June 6th. BMO Capital Markets increased their target price on Transcontinental from C$20.00 to C$23.00 in a research note on Friday, June 6th. Scotiabank downgraded Transcontinental from an "outperform" rating to a "sector perform" rating and increased their target price for the stock from C$22.00 to C$23.25 in a research note on Friday, June 6th. Finally, National Bankshares upped their price target on Transcontinental from C$23.00 to C$24.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$23.71.

Transcontinental Trading Down 0.4%

The firm has a market capitalization of C$1.40 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 6.05 and a beta of 0.98. The business's fifty day moving average is C$20.77 and its 200 day moving average is C$19.04. The company has a quick ratio of 1.09, a current ratio of 1.49 and a debt-to-equity ratio of 54.12.

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.