Transcontinental Inc. (TSE:TCL.A) shares hit a new 52-week high during mid-day trading on Thursday after National Bank Financial raised their price target on the stock from C$26.00 to C$28.00. National Bank Financial currently has an outperform rating on the stock. Transcontinental traded as high as C$25.94 and last traded at C$25.50, with a volume of 66134 shares trading hands. The stock had previously closed at C$24.19.
A number of other brokerages also recently issued reports on TCL.A. Scotiabank upped their price target on Transcontinental from C$24.00 to C$25.00 in a report on Thursday. National Bankshares increased their price objective on Transcontinental from C$26.00 to C$28.00 and gave the company an “outperform” rating in a report on Thursday. Royal Bank of Canada increased their price objective on Transcontinental from C$25.00 to C$26.00 and gave the company an “outperform” rating in a report on Tuesday. BMO Capital Markets increased their price objective on Transcontinental from C$21.00 to C$24.00 in a report on Thursday. Finally, CIBC increased their price objective on Transcontinental from C$25.00 to C$26.00 and gave the company an “outperform” rating in a report on Thursday. Five investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average target price of C$26.22.
The stock has a 50-day simple moving average of C$23.21. The firm has a market cap of C$2.24 billion and a PE ratio of 17.05. The company has a current ratio of 1.30, a quick ratio of 0.87 and a debt-to-equity ratio of 60.08.
About Transcontinental (TSE:TCL.A)
Transcontinental Inc engages in flexible packaging business in Canada, the United States, Latin America, the United Kingdom, Australia, and New Zealand. It operates through three segments: Packaging, Printing, and Media. The Packaging segment engages in extrusion, lamination, printing, and converting activities, as well as offers flexible plastic and paper products, including rollstock, bags and pouches, coextruded films, shrink films and bags, and advanced coatings.
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