ATB Cormark Capital Markets Issues Positive Forecast for Transcontinental (TSE:TCL.A) Stock Price

Transcontinental (TSE:TCL.A) had its target price lifted by ATB Cormark Capital Markets from C$6.00 to C$7.00 in a research report issued on Friday, BayStreet reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target indicates a potential upside of 38.07% from the company’s previous close.

Several other brokerages also recently weighed in on TCL.A. Canadian Imperial Bank of Commerce reduced their target price on Transcontinental from C$8.00 to C$7.00 and set an “outperformer” rating for the company in a research note on Friday, June 5th. Royal Bank Of Canada cut their price target on shares of Transcontinental from C$9.00 to C$8.00 and set an “outperform” rating for the company in a report on Monday, June 8th. BMO Capital Markets reduced their price objective on shares of Transcontinental from C$6.25 to C$6.00 and set a “market perform” rating for the company in a research report on Friday, June 5th. Finally, National Bank Financial reduced their price objective on shares of Transcontinental from C$8.00 to C$7.00 and set an “outperform” rating for the company in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$9.86.

Transcontinental Price Performance

TCL.A traded up C$0.21 during trading on Friday, hitting C$5.07. The company’s stock had a trading volume of 196,514 shares, compared to its average volume of 622,801. The company has a current ratio of 1.49, a quick ratio of 1.09 and a debt-to-equity ratio of 54.12. Transcontinental has a twelve month low of C$4.16 and a twelve month high of C$25.65. The business’s fifty day simple moving average is C$5.41 and its 200 day simple moving average is C$7.88. The firm has a market capitalization of C$423.95 million, a price-to-earnings ratio of 1.27, a P/E/G ratio of 6.05 and a beta of 0.48.

Transcontinental Company Profile

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.