CCL Industries (TSE:CCL.B) Cut to “Sector Perform” at Scotiabank

CCL Industries (TSE:CCL.B) was downgraded by Scotiabank from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Thursday,BayStreet.CA reports. They presently have a C$96.00 price objective on the stock, up from their prior price objective of C$94.00. Scotiabank’s price objective would suggest a potential upside of 18.72% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. Royal Bank Of Canada increased their price target on CCL Industries from C$90.00 to C$94.00 in a research report on Thursday, November 13th. Raymond James Financial upped their target price on CCL Industries from C$90.00 to C$95.00 in a research note on Thursday, November 13th. TD Securities increased their target price on CCL Industries from C$100.00 to C$105.00 in a research report on Wednesday, January 21st. BMO Capital Markets boosted their price target on shares of CCL Industries from C$95.00 to C$97.00 in a report on Thursday, November 13th. Finally, CIBC upped their price objective on shares of CCL Industries from C$93.00 to C$99.00 in a research report on Friday, November 14th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, CCL Industries has a consensus rating of “Moderate Buy” and an average target price of C$98.13.

CCL Industries Price Performance

Shares of CCL Industries stock traded down C$3.35 during trading hours on Thursday, reaching C$80.86. The stock had a trading volume of 274,116 shares, compared to its average volume of 255,042. The stock’s 50 day moving average is C$85.62 and its 200 day moving average is C$81.78. The company has a current ratio of 1.96, a quick ratio of 1.31 and a debt-to-equity ratio of 48.08. CCL Industries has a twelve month low of C$64.93 and a twelve month high of C$89.16. The firm has a market capitalization of C$14.01 billion, a PE ratio of 17.62, a PEG ratio of 0.26 and a beta of 0.57.

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.