Canaccord Genuity Cuts Transcontinental (TSE:TCL.A) Price Target to C$21.00

Transcontinental (TSE:TCL.A) had its price objective lowered by Canaccord Genuity from C$27.00 to C$21.00 in a research note published on Friday, June 7th, BayStreet.CA reports.

Other analysts have also recently issued reports about the stock. TD Securities lowered their price objective on shares of Transcontinental from C$25.00 to C$22.00 and set a buy rating for the company in a research note on Friday, June 7th. CIBC dropped their target price on shares of Transcontinental from C$26.00 to C$23.00 in a research report on Friday, June 7th. National Bank Financial lowered their price objective on shares of Transcontinental from C$22.00 to C$21.00 and set an outperform rating for the company in a research report on Tuesday, May 14th. Finally, Royal Bank of Canada lowered their price objective on shares of Transcontinental from C$30.00 to C$29.00 and set an outperform rating for the company in a research report on Friday, March 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Transcontinental presently has a consensus rating of Buy and a consensus price target of C$23.81.

Shares of TCL.A stock traded up C$0.11 during mid-day trading on Friday, hitting C$14.59. 203,241 shares of the stock were exchanged, compared to its average volume of 140,806. Transcontinental has a 12-month low of C$14.05 and a 12-month high of C$32.36. The company has a market capitalization of $1.07 billion and a PE ratio of 9.34. The firm’s fifty day moving average price is C$14.72. The company has a quick ratio of 0.84, a current ratio of 1.33 and a debt-to-equity ratio of 87.44.

Transcontinental Company Profile

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.

Further Reading: Are sell-side analysts objective?

Analyst Recommendations for Transcontinental (TSE:TCL.A)

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