Transcontinental (TSE:TCL.A) Stock Price Up 21.8% – Here’s Why

Shares of Transcontinental Inc. (TSE:TCL.A) shot up 21.8% on Monday . The company traded as high as C$25.65 and last traded at C$24.20. 451,356 shares traded hands during mid-day trading, an increase of 135% from the average session volume of 192,436 shares. The stock had previously closed at C$19.87.

Analyst Ratings Changes

Several brokerages have issued reports on TCL.A. Royal Bank Of Canada set a C$26.00 target price on Transcontinental and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Cormark reduced their price target on Transcontinental from C$27.00 to C$26.00 in a research report on Monday, September 8th. Finally, TD Securities lifted their price objective on Transcontinental from C$26.00 to C$27.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$24.32.

Transcontinental Price Performance

The company has a current ratio of 1.49, a quick ratio of 1.09 and a debt-to-equity ratio of 54.12. The stock has a 50 day simple moving average of C$19.66 and a 200-day simple moving average of C$20.08. The firm has a market cap of C$1.99 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 6.05 and a beta of 0.79.

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.