CCL Industries (TSE:CCL.B) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

CCL Industries Inc. (TSE:CCL.B) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$82.56 and traded as high as C$88.22. CCL Industries shares last traded at C$88.16, with a volume of 243,321 shares traded.

Wall Street Analysts Forecast Growth

CCL.B has been the topic of several research analyst reports. Scotiabank downgraded shares of CCL Industries from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from C$94.00 to C$96.00 in a research note on Thursday, January 29th. Canadian Imperial Bank of Commerce raised their price target on shares of CCL Industries from C$93.00 to C$99.00 in a research report on Friday, November 14th. Royal Bank Of Canada upped their price objective on shares of CCL Industries from C$90.00 to C$94.00 in a research report on Thursday, November 13th. Stifel Nicolaus boosted their price target on CCL Industries from C$92.00 to C$103.00 in a research note on Thursday, November 13th. Finally, BMO Capital Markets lifted their price objective on CCL Industries from C$95.00 to C$97.00 in a report on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$98.63.

CCL Industries Trading Up 0.3%

The company has a 50 day moving average of C$86.18 and a 200 day moving average of C$82.60. The firm has a market cap of C$15.27 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 0.26 and a beta of 0.45. The company has a current ratio of 1.96, a quick ratio of 1.31 and a debt-to-equity ratio of 48.08.

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.