Transcontinental (TSE:TCL.A) Shares Pass Below 200 Day Moving Average – What’s Next?

Transcontinental Inc. (TSE:TCL.A) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$6.99 and traded as low as C$5.15. Transcontinental shares last traded at C$5.26, with a volume of 401,905 shares trading hands.

Analyst Ratings Changes

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

Transcontinental Trading Down 1.3%

The firm’s 50 day simple moving average is C$5.36 and its 200-day simple moving average is C$6.73. The company has a market capitalization of C$437.33 million, a PE ratio of 1.31, a P/E/G ratio of 6.05 and a beta of 0.48. The company has a quick ratio of 1.09, a current ratio of 1.49 and a debt-to-equity ratio of 54.12.

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.