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

Transcontinental Inc. (TSE:TCL.A) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$19.10 and traded as low as C$5.18. Transcontinental shares last traded at C$5.18, with a volume of 370,701 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TCL.A shares. TD Securities decreased their price target on shares of Transcontinental from C$28.00 to C$8.00 and set a “buy” rating for the company in a research report on Tuesday, March 24th. BMO Capital Markets cut their price objective on Transcontinental from C$27.00 to C$6.25 in a research report on Tuesday, March 24th. Finally, ATB Cormark Capital Markets reduced their price objective on Transcontinental from C$27.00 to C$7.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$18.61.

Transcontinental Trading Down 1.5%

The company has a debt-to-equity ratio of 54.12, a quick ratio of 1.09 and a current ratio of 1.49. The company’s 50-day moving average price is C$14.72 and its 200-day moving average price is C$19.10. The firm has a market capitalization of C$433.15 million, a PE ratio of 2.99, a PEG ratio of 6.05 and a beta of 0.46.

Transcontinental (TSE:TCL.A) last posted its earnings results on Tuesday, March 10th. The company reported C$0.08 EPS for the quarter. Transcontinental had a return on equity of 6.16% and a net margin of 4.05%.The firm had revenue of C$263.50 million for the quarter. On average, sell-side analysts expect that Transcontinental Inc. will post 2.439834 earnings per share for the current 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.