Transcontinental (TSE:TCL.A) Stock Price Expected to Rise, Scotiabank Analyst Says

Transcontinental (TSE:TCL.A) had its target price raised by Scotiabank from C$19.50 to C$22.00 in a report issued on Friday,BayStreet.CA reports. Scotiabank’s target price points to a potential upside of 21.21% from the company’s previous close.

Several other equities analysts have also recently weighed in on TCL.A. BMO Capital Markets increased their price objective on shares of 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. Royal Bank of Canada raised their target price on shares of Transcontinental from C$22.00 to C$23.00 in a research note on Tuesday. Finally, CIBC raised their target price on shares of Transcontinental from C$18.00 to C$19.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$21.75.

Transcontinental Stock Performance

Shares of TSE TCL.A traded up C$0.15 during trading on Friday, reaching C$18.15. 167,905 shares of the company traded hands, compared to its average volume of 151,822. The firm has a 50 day simple moving average of C$17.37 and a 200-day simple moving average of C$16.19. 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 stock has a market capitalization of C$1.29 billion, a PE ratio of 13.68, a P/E/G ratio of 6.05 and a beta of 0.98. Transcontinental has a 52-week low of C$11.85 and a 52-week high of C$18.85.

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.