CCL Industries (TSE:CCL.B) Share Price Crosses Above 200 Day Moving Average – Here’s Why

CCL Industries Inc. (TSE:CCL.B) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$82.15 and traded as high as C$86.99. CCL Industries shares last traded at C$85.42, with a volume of 308,546 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CCL.B shares. Raymond James Financial increased their target price on shares of CCL Industries from C$90.00 to C$95.00 in a research report on Thursday, November 13th. Canadian Imperial Bank of Commerce upped their price objective on CCL Industries from C$93.00 to C$99.00 in a research note on Friday, November 14th. National Bank Financial increased their price objective on CCL Industries from C$97.00 to C$100.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. TD Securities boosted their target price on CCL Industries from C$100.00 to C$105.00 in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada upped their price target on CCL Industries from C$90.00 to C$94.00 in a research report on Thursday, November 13th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$98.63.

CCL Industries Stock Down 1.4%

The stock’s 50 day moving average is C$85.69 and its 200 day moving average is C$82.15. The company has a market capitalization of C$14.80 billion, a PE ratio of 18.61, a PEG ratio of 0.26 and a beta of 0.45. The company has a debt-to-equity ratio of 48.08, a quick ratio of 1.31 and a current ratio of 1.96.

CCL Industries Company Profile

CCL Industries Inc manufactures and sells packaging and packaging-related products. The company operates through various segments, which include The CCL segment, which generates the majority of revenue, sells pressure sensitive and extruded film materials used for labels on consumer packaging, healthcare, automotive, and consumer durable products. The Avery segment sells software, labels, tags, dividers, badges, and specialty card products under the Avery brand. The Checkpoint segment includes the manufacturing and selling of technology-driven, inventory management and labeling solutions.