Transcontinental (TSE:TCL.B) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Transcontinental Inc. (TSE:TCL.B) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$6.69 and traded as high as C$7.00. Transcontinental shares last traded at C$7.00, with a volume of 6,600 shares trading hands.

Analyst Ratings Changes

Separately, Canadian Imperial Bank of Commerce lowered their target price on Transcontinental from C$28.00 to C$8.00 in a research note on Monday, March 23rd.

Transcontinental Price Performance

The stock has a market capitalization of C$626.31 million, a PE ratio of 1.87 and a beta of 0.16. 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 stock’s fifty day moving average is C$6.69 and its 200-day moving average is C$15.71.

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.