Transcontinental (TSE:TCL.A) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• Transcontinental Inc.'s stock price surpassed its 200-day moving average of C$19.25, reaching a high of C$20.17 during trading.
• Wal Street analysts have revised their target prices for Transcontinental, with National Bankshares increasing its target from C$23.00 to C$24.00 and TD Securities raising theirs from C$23.00 to C$26.00, indicating overall positive sentiment.
• The company's current financial metrics show a market cap of C$1.44 billion, a debt-to-equity ratio of 54.12, and a PE ratio of 15.13.

Transcontinental Inc. (TSE:TCL.A - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$19.25 and traded as high as C$20.17. Transcontinental shares last traded at C$20.12, with a volume of 44,383 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TCL.A. National Bankshares boosted their target price on Transcontinental from C$23.00 to C$24.00 and gave the company an "outperform" rating in a research report on Friday, June 6th. Scotiabank lowered Transcontinental from an "outperform" rating to a "sector perform" rating and boosted their target price for the company from C$22.00 to C$23.25 in a research report on Friday, June 6th. TD Securities boosted their target price on Transcontinental from C$23.00 to C$26.00 and gave the company a "buy" rating in a research report on Friday, June 6th. BMO Capital Markets boosted their target price on Transcontinental from C$20.00 to C$23.00 in a research report on Friday, June 6th. Finally, Royal Bank Of Canada boosted their target price on Transcontinental from C$24.00 to C$25.00 and gave the company an "outperform" rating in a research report on Friday, June 6th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Transcontinental presently has an average rating of "Moderate Buy" and an average target price of C$23.71.

Transcontinental Stock Up 0.0%

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 stock has a market cap of C$1.44 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 6.05 and a beta of 0.98. The business has a fifty day moving average of C$20.13 and a 200-day moving average of C$19.25.

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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