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

Transcontinental (TSE:TCL.A) had its price target hoisted by CIBC from C$20.00 to C$21.00 in a research note published on Monday,BayStreet.CA reports.

Several other analysts have also weighed in on TCL.A. Scotiabank upped their price objective on Transcontinental from C$19.50 to C$22.00 in a research note on Friday, December 13th. Royal Bank of Canada boosted their target price on shares of Transcontinental from C$22.00 to C$23.00 in a research note on Tuesday, December 10th. National Bankshares lifted their price target on shares of Transcontinental from C$21.00 to C$23.00 in a report on Friday, December 13th. Finally, BMO Capital Markets increased their price objective on shares of Transcontinental from C$18.00 to C$20.00 in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$22.08.

Transcontinental Stock Performance

Transcontinental stock opened at C$17.52 on Monday. 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 stock has a 50 day moving average of C$17.39 and a 200-day moving average of C$16.33. The stock has a market cap of C$1.25 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 6.05 and a beta of 0.98. Transcontinental has a 52 week low of C$13.11 and a 52 week high of C$18.85.

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.