Transcontinental (TSE:TCL.A) Upgraded to Outperform by CIBC

Transcontinental (TSE:TCL.A – Get Rating) was upgraded by CIBC from a “neutral” rating to an “outperform” rating in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has a C$16.00 price target on the stock. CIBC’s target price would suggest a potential upside of 22.79% from the company’s previous close.

A number of other brokerages also recently weighed in on TCL.A. Royal Bank of Canada dropped their target price on shares of Transcontinental from C$23.00 to C$19.00 and set an “outperform” rating for the company in a research note on Thursday, March 9th. National Bankshares downgraded shares of Transcontinental from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from C$19.00 to C$16.00 in a research note on Thursday, March 9th. BMO Capital Markets dropped their target price on shares of Transcontinental from C$20.00 to C$17.00 in a research note on Thursday, March 9th. Finally, Cormark boosted their target price on shares of Transcontinental to C$25.00 in a research note on Wednesday, December 14th.

Transcontinental Trading Down 3.1 %

Shares of TCL.A stock opened at C$13.03 on Thursday. Transcontinental has a 12-month low of C$12.08 and a 12-month high of C$18.58. The company has a market capitalization of C$947.41 million, a P/E ratio of 9.11, a P/E/G ratio of 6.05 and a beta of 0.90. The firm has a 50-day moving average price of C$14.89 and a 200 day moving average price of C$15.68. The company has a quick ratio of 1.09, a current ratio of 2.35 and a debt-to-equity ratio of 65.69.

Transcontinental Company Profile

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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.