Transcontinental (TSE:TCL.A) Given New C$23.00 Price Target at Royal Bank of Canada

Transcontinental (TSE:TCL.A) had its price target lifted by equities researchers at Royal Bank of Canada from C$22.00 to C$23.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s target price points to a potential upside of 31.28% from the company’s previous close.

Several other brokerages have also issued reports on TCL.A. BMO Capital Markets boosted their target price on shares of Transcontinental from C$16.50 to C$18.00 and gave the company a “market perform” rating in a research report on Friday, September 13th. CIBC boosted their price objective on shares of Transcontinental from C$18.00 to C$19.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Transcontinental presently has a consensus rating of “Moderate Buy” and an average price target of C$20.67.

Transcontinental Stock Performance

Shares of TSE TCL.A traded down C$0.29 during trading on Tuesday, reaching C$17.52. 55,656 shares of the company traded hands, compared to its average volume of 150,916. The company has a quick ratio of 1.09, a current ratio of 1.49 and a debt-to-equity ratio of 54.12. The firm has a 50 day simple moving average of C$17.36 and a 200-day simple moving average of C$16.13. Transcontinental has a 52-week low of C$11.09 and a 52-week high of C$18.29. The stock has a market capitalization of C$1.25 billion, a PE ratio of 13.22, a P/E/G ratio of 6.05 and a beta of 0.98.

About Transcontinental

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.