Transcontinental (TSE:TCL.A) Shares Pass Above 200 Day Moving Average – What’s Next?

Shares of Transcontinental Inc. (TSE:TCL.A) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$17.21 and traded as high as C$18.49. Transcontinental shares last traded at C$18.02, with a volume of 201,714 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TCL.A. TD Securities set a C$23.00 price objective on Transcontinental and gave the stock a “buy” rating in a research report on Thursday, January 30th. National Bankshares lifted their price target on Transcontinental from C$21.00 to C$23.00 in a research report on Friday, December 13th. BMO Capital Markets lifted their price target on Transcontinental from C$18.00 to C$20.00 in a research note on Friday, December 13th. Scotiabank increased their price target on shares of Transcontinental from C$19.50 to C$22.00 in a research report on Friday, December 13th. Finally, CIBC boosted their target price on shares of Transcontinental from C$20.00 to C$21.00 in a report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Transcontinental has a consensus rating of “Moderate Buy” and an average target price of C$22.21.

Transcontinental Stock Performance

The stock has a market capitalization of C$1.28 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 6.05 and a beta of 0.98. The firm has a fifty day moving average of C$18.07 and a 200 day moving average of C$17.22. The company has a debt-to-equity ratio of 54.12, a current ratio of 1.49 and a quick ratio of 1.09.

About Transcontinental

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.