Transcontinental (TSE:TCL.A) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Transcontinental Inc. (TSE:TCL.A) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$15.62 and traded as high as C$17.66. Transcontinental shares last traded at C$17.49, with a volume of 91,984 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. BMO Capital Markets boosted their price objective on Transcontinental from C$16.50 to C$18.00 and gave the stock a “market perform” rating in a research note on Friday, September 13th. CIBC raised their target price on Transcontinental from C$18.00 to C$19.00 and gave the company an “outperform” rating in a report on Monday, September 16th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$20.50.

Transcontinental Stock Up 0.2 %

The stock has a fifty day moving average price of C$17.16 and a two-hundred day moving average price of C$15.62. The firm has a market capitalization of C$1.25 billion, a P/E ratio of 13.15, a P/E/G ratio of 6.05 and a beta of 0.98. 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 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.