Transcontinental (TSE:TCL.A) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Transcontinental Inc. (TSE:TCL.A)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$20.46 and traded as high as C$23.25. Transcontinental shares last traded at C$22.92, with a volume of 303,298 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TCL.A. Scotiabank lifted their target price on shares of Transcontinental from C$23.25 to C$26.00 and gave the company a “sector perform” rating in a report on Tuesday, December 9th. Royal Bank Of Canada lifted their price objective on Transcontinental from C$26.00 to C$29.00 and gave the company an “outperform” rating in a report on Friday, December 12th. National Bankshares boosted their target price on Transcontinental from C$24.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. BMO Capital Markets increased their target price on Transcontinental from C$23.00 to C$27.00 in a research note on Tuesday, December 9th. Finally, TD Securities lifted their price target on Transcontinental from C$27.00 to C$28.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$27.33.

Transcontinental Stock Down 0.1%

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 company has a market capitalization of C$1.92 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 6.05 and a beta of 0.68. The firm’s 50-day simple moving average is C$21.64 and its two-hundred day simple moving average is C$20.46.

Transcontinental (TSE:TCL.A) last posted its quarterly earnings results on Thursday, December 11th. The company reported C$0.52 earnings per share (EPS) for the quarter. The company had revenue of C$732.40 million during the quarter. Transcontinental had a net margin of 4.05% and a return on equity of 6.16%. Sell-side analysts predict that Transcontinental Inc. will post 2.439834 EPS for the current fiscal year.

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. The company offers premedia, printing, and distribution services through the printing segment. Publishers, retailers, cataloguers, and marketers are some of the customers who tap TC Transcontinental for these printing solutions.