ATB Cormark Capital Markets Forecasts Strong Price Appreciation for CCL Industries (TSE:CCL.B) Stock

CCL Industries (TSE:CCL.B) had its price target upped by ATB Cormark Capital Markets from C$102.00 to C$104.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price indicates a potential upside of 7.88% from the company’s current price.

CCL.B has been the subject of a number of other reports. TD increased their price objective on CCL Industries from C$110.00 to C$115.00 and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus upped their price target on CCL Industries from C$103.00 to C$105.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Royal Bank Of Canada lifted their price objective on shares of CCL Industries from C$99.00 to C$100.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Canadian Imperial Bank of Commerce increased their target price on shares of CCL Industries from C$104.00 to C$113.00 in a report on Friday. Finally, National Bank Financial lifted their price target on shares of CCL Industries from C$102.00 to C$104.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$106.60.

CCL Industries Stock Up 0.4%

Shares of CCL.B traded up C$0.42 on Friday, hitting C$96.40. The company’s stock had a trading volume of 203,592 shares, compared to its average volume of 385,215. The company has a quick ratio of 1.31, a current ratio of 1.96 and a debt-to-equity ratio of 48.08. CCL Industries has a fifty-two week low of C$74.69 and a fifty-two week high of C$98.59. The firm’s fifty day moving average price is C$90.17 and its 200-day moving average price is C$87.96. The firm has a market capitalization of C$16.57 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 0.26 and a beta of 0.95.

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.