CCL Industries (TSE:CCL.B) Sets New 1-Year High – Here’s What Happened

CCL Industries Inc. (TSE:CCL.B)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as C$89.10 and last traded at C$88.58, with a volume of 123927 shares. The stock had previously closed at C$86.80.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. CIBC lifted their price objective on shares of CCL Industries from C$93.00 to C$99.00 in a research note on Friday, November 14th. BMO Capital Markets raised their target price on shares of CCL Industries from C$95.00 to C$97.00 in a report on Thursday, November 13th. Royal Bank Of Canada boosted their target price on shares of CCL Industries from C$90.00 to C$94.00 in a research report on Thursday, November 13th. Raymond James Financial increased their price target on CCL Industries from C$90.00 to C$95.00 in a research report on Thursday, November 13th. Finally, Scotiabank boosted their price objective on CCL Industries from C$91.00 to C$94.00 in a report on Thursday, November 13th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$97.25.

CCL Industries Stock Up 0.3%

The business’s fifty day simple moving average is C$84.52 and its two-hundred day simple moving average is C$81.15. The company has a market cap of C$15.35 billion, a PE ratio of 19.31, a PEG ratio of 0.26 and a beta of 0.57. The company has a debt-to-equity ratio of 48.08, a current ratio of 1.96 and a quick ratio of 1.31.

About CCL Industries

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.