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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. National Bankshares lifted their target price on Transcontinental from C$24.00 to C$28.00 and gave the company an “outperform” rating in a research report on Tuesday. Royal Bank Of Canada set a C$26.00 price objective on shares of Transcontinental and gave the company an “outperform” rating in a report on Wednesday, October 29th. BMO Capital Markets upped their target price on shares of Transcontinental from C$23.00 to C$27.00 in a research report on Tuesday. Cormark dropped their price target on shares of Transcontinental from C$27.00 to C$26.00 in a research report on Monday, September 8th. Finally, TD Securities boosted their price target on shares of Transcontinental from C$27.00 to C$28.00 and gave the company a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Transcontinental has a consensus rating of “Moderate Buy” and an average price target of C$26.00.

Transcontinental Trading Up 2.8%

The firm has a market cap of C$2.03 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 6.05 and a beta of 0.79. The company has a debt-to-equity ratio of 54.12, a current ratio of 1.49 and a quick ratio of 1.09. The company’s 50 day moving average price is C$19.90 and its 200 day moving average price is C$20.15.

About Transcontinental

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.