Transcontinental (TSE:TCL.A) Stock Crosses Below 200 Day Moving Average – Here’s Why

Transcontinental Inc. (TSE:TCL.A)’s stock price crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$6.22 and traded as low as C$5.27. Transcontinental shares last traded at C$5.32, with a volume of 365,812 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on TCL.A shares. ATB Cormark Capital Markets boosted their price target on Transcontinental from C$6.00 to C$7.00 and gave the stock an “outperform” rating in a report on Friday, September 11th. National Bank Financial cut their price objective on shares of Transcontinental from C$8.00 to C$7.00 and set an “outperform” rating for the company in a report on Thursday, September 10th. BMO Capital Markets reduced their price objective on shares of Transcontinental from C$6.25 to C$6.00 and set a “market perform” rating on the stock in a research report on Friday, June 5th. Royal Bank Of Canada lowered their target price on shares of Transcontinental from C$9.00 to C$8.00 and set an “outperform” rating on the stock in a report on Monday, June 8th. Finally, Canadian Imperial Bank of Commerce dropped their target price on shares of Transcontinental from C$8.00 to C$7.00 and set an “outperformer” rating for the company in a research report on Friday, June 5th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Transcontinental presently has an average rating of “Moderate Buy” and an average target price of C$9.86.

Transcontinental Stock Up 0.2%

The business has a 50-day moving average of C$5.33 and a 200 day moving average of C$6.10. The company has a market capitalization of C$442.34 million, a PE ratio of 1.33, a P/E/G ratio of 6.05 and a beta of 0.48. The company has a debt-to-equity ratio of 54.12, a current ratio of 1.49 and a quick ratio of 1.09.

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. The company offers premedia, printing, and distribution services through the printing segment. Publishers, retailers, cataloguers, and marketers are some of the customers who tap TC Transcontinental for these printing solutions.