Royal Bank of Canada Issues Positive Forecast for Transcontinental (TSE:TCL.A) Stock Price

Transcontinental (TSE:TCL.A) had its price objective upped by Royal Bank of Canada from C$24.00 to C$25.00 in a research report released on Friday morning,BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the company. BMO Capital Markets lifted their price objective on Transcontinental from C$20.00 to C$23.00 in a research note on Friday. TD Securities lifted their price target on Transcontinental from C$22.00 to C$23.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. Finally, National Bankshares lifted their price target on Transcontinental from C$22.00 to C$23.00 and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Transcontinental presently has an average rating of “Moderate Buy” and a consensus price target of C$23.68.

Transcontinental Stock Performance

TSE TCL.A opened at C$21.11 on Friday. The stock has a 50-day simple moving average of C$19.10 and a two-hundred day simple moving average of C$18.29. The firm has a market capitalization of C$1.51 billion, a P/E ratio of 15.87, a PEG ratio of 6.05 and a beta of 0.98. Transcontinental has a fifty-two week low of C$14.45 and a fifty-two week 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.

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.