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

Shares of Transcontinental Inc. (TSE:TCL.A) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$15.48 and traded as high as C$17.73. Transcontinental shares last traded at C$17.48, with a volume of 95,013 shares traded.

Wall Street Analysts Forecast Growth

TCL.A has been the topic of a number of research reports. CIBC boosted their target price on shares of Transcontinental from C$18.00 to C$19.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. BMO Capital Markets upped their price objective on shares of Transcontinental from C$16.50 to C$18.00 and gave the company a “market perform” rating in a report on Friday, September 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Transcontinental has a consensus rating of “Moderate Buy” and a consensus target price of C$20.50.

Transcontinental Stock Performance

The company has a market capitalization of C$1.23 billion, a P/E ratio of 12.97, a P/E/G ratio of 6.05 and a beta of 0.98. The company has a quick ratio of 1.09, a current ratio of 1.49 and a debt-to-equity ratio of 54.12. The firm’s 50-day moving average price is C$17.09 and its 200 day moving average price is C$15.51.

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.