TRANSAT AT (TSE:TRZ) Cut to Hold at Beacon Securities

TRANSAT AT (TSE:TRZ) was downgraded by investment analysts at Beacon Securities from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, March 16th. They presently have a C$10.50 price target on the stock, down from their prior price target of C$13.25. Beacon Securities’ price target would suggest a potential upside of 32.08% from the company’s current price.

Other equities analysts have also issued reports about the company. National Bank Financial lifted their price objective on TRANSAT AT from C$13.50 to C$15.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. Scotiabank lifted their price objective on TRANSAT AT from C$10.00 to C$10.50 and gave the company a “sector perform” rating in a research note on Friday, December 15th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. TRANSAT AT has a consensus rating of “Buy” and a consensus target price of C$12.06.

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Shares of TSE TRZ traded up C$0.29 during midday trading on Friday, hitting C$7.95. The stock had a trading volume of 165,244 shares, compared to its average volume of 85,784. TRANSAT AT has a 1-year low of C$5.07 and a 1-year high of C$11.82.

TRANSAT AT (TSE:TRZ) last released its quarterly earnings data on Thursday, March 15th. The company reported C($0.91) earnings per share for the quarter, missing the consensus estimate of C($0.79) by C($0.12). The firm had revenue of C$725.78 million during the quarter, compared to analyst estimates of C$740.75 million. TRANSAT AT had a negative net margin of 0.70% and a negative return on equity of 7.84%.

In related news, Director Bernard Bussières sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of C$10.90, for a total transaction of C$119,900.00. Also, insider De Solidarité Ftq Fonds sold 450,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of C$11.00, for a total value of C$4,950,000.00. Insiders have sold a total of 462,125 shares of company stock worth $5,081,868 over the last three months.

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Transat A.T. Inc operates as an integrated tour operator in the Americas, Europe, and the Middle East. It develops and markets holiday travel services in package and air-only formats; and offers vacation packages, hotel stays, and air travel to 60 destinations in 26 countries. The company also operates as an outgoing and incoming tour operator by bundling services bought in Canada and abroad, and reselling them in Canada, France, the United Kingdom, and 10 European countries directly or through intermediaries.

Analyst Recommendations for TRANSAT AT (TSE:TRZ)

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