Scotiabank Forecasts Strong Price Appreciation for Transcontinental (TSE:TCL.A) Stock

Transcontinental (TSE:TCL.A) had its price target lifted by stock analysts at Scotiabank from C$23.25 to C$26.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential upside of 10.22% from the stock’s previous close.

Several other research analysts also recently weighed in on TCL.A. Cormark dropped their price target on Transcontinental from C$27.00 to C$26.00 in a research note on Monday, September 8th. BMO Capital Markets lifted their price objective on Transcontinental from C$23.00 to C$27.00 in a research note on Tuesday. TD Securities upped their price objective on Transcontinental from C$27.00 to C$28.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Royal Bank Of Canada set a C$26.00 price target on shares of Transcontinental and gave the company an “outperform” rating in a report on Wednesday, October 29th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$26.00.

Transcontinental Stock Performance

Transcontinental stock traded down C$0.07 during midday trading on Tuesday, hitting C$23.59. The stock had a trading volume of 609,730 shares, compared to its average volume of 198,184. The firm’s fifty day moving average is C$19.74 and its two-hundred day moving average is C$20.10. The company has a current ratio of 1.49, a quick ratio of 1.09 and a debt-to-equity ratio of 54.12. The company has a market capitalization of C$1.97 billion, a PE ratio of 11.29, a P/E/G ratio of 6.05 and a beta of 0.79. Transcontinental has a 52-week low of C$15.97 and a 52-week high of C$25.65.

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.