National Bankshares Cuts Transcontinental (TSE:TCL.A) Price Target to C$23.00

Transcontinental (TSE:TCL.AGet Rating) had its price target reduced by equities researchers at National Bankshares from C$24.50 to C$23.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bankshares’ price target would indicate a potential upside of 40.85% from the company’s current price.

Several other research analysts have also recently commented on TCL.A. Royal Bank of Canada reduced their price target on Transcontinental from C$27.00 to C$26.00 and set an “outperform” rating for the company in a research report on Wednesday, March 9th. Cormark reduced their price target on Transcontinental from C$29.00 to C$24.00 and set a “buy” rating for the company in a research report on Wednesday, March 9th. CIBC cut Transcontinental from an “outperform” rating to a “neutral” rating and reduced their price target for the company from C$26.00 to C$19.00 in a research report on Thursday. Scotiabank cut their price objective on Transcontinental from C$25.00 to C$23.50 in a research report on Wednesday, March 9th. Finally, BMO Capital Markets set a C$23.00 price objective on Transcontinental in a research report on Wednesday, March 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from, the stock presently has a consensus rating of “Buy” and an average price target of C$23.79.

Shares of TSE:TCL.A traded up C$0.37 during mid-day trading on Friday, reaching C$16.33. 298,560 shares of the stock were exchanged, compared to its average volume of 258,008. The company has a quick ratio of 0.89, a current ratio of 1.60 and a debt-to-equity ratio of 59.46. The company has a market cap of C$1.42 billion and a P/E ratio of 11.74. Transcontinental has a one year low of C$15.71 and a one year high of C$26.45. The stock’s 50 day simple moving average is C$18.48 and its 200-day simple moving average is C$19.42.

Transcontinental Company Profile (Get Rating)

Transcontinental Inc engages in flexible packaging business in Canada, the United States, Latin America, the United Kingdom, Australia, and New Zealand. It operates through three segments: Packaging, Printing, and Media. The Packaging segment engages in extrusion, lamination, printing, and converting activities, as well as offers flexible plastic and paper products, including rollstock, bags and pouches, coextruded films, shrink films and bags, and advanced coatings.

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