Transcontinental (TSE:TCL.A) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Transcontinental Inc. (TSE:TCL.A) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$13.00 and traded as low as C$5.48. Transcontinental shares last traded at C$5.57, with a volume of 221,380 shares.

Wall Street Analyst Weigh In

TCL.A has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce dropped their target price on 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. ATB Cormark Capital Markets cut their price target on shares of Transcontinental from C$7.00 to C$6.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. BMO Capital Markets reduced their price target 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 price objective on shares of Transcontinental from C$9.00 to C$8.00 and set an “outperform” rating for the company in a research note on Monday, June 8th. Finally, TD Securities dropped their price objective on shares of Transcontinental from C$28.00 to C$8.00 and set a “buy” rating for the company in a report on Tuesday, March 24th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$14.38.

Transcontinental Stock Up 1.3%

The company has a debt-to-equity ratio of 54.12, a quick ratio of 1.09 and a current ratio of 1.49. The firm has a 50-day moving average price of C$5.31 and a two-hundred day moving average price of C$13.00. The firm has a market cap of C$465.76 million, a price-to-earnings ratio of 1.39, a price-to-earnings-growth ratio of 6.05 and a beta of 0.44.

Transcontinental (TSE:TCL.A) last issued its quarterly earnings data on Thursday, June 4th. The company reported C$0.19 earnings per share for the quarter. Transcontinental had a net margin of 4.05% and a return on equity of 6.16%. The business had revenue of C$269.20 million during the quarter. On average, sell-side analysts forecast that Transcontinental Inc. will post 2.439834 earnings per share for the current year.

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. 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.