CCL Industries (TSE:CCL.B) Reaches New 12-Month High – Here’s Why

CCL Industries Inc. (TSE:CCL.B)’s stock price reached a new 52-week high on Thursday. The stock traded as high as C$99.37 and last traded at C$99.37, with a volume of 3,530 shares trading hands. The stock had previously closed at C$96.58.

Analysts Set New Price Targets

A number of brokerages have issued reports on CCL.B. ATB Cormark Capital Markets upped their target price on CCL Industries from C$102.00 to C$104.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Raymond James Financial upped their price objective on CCL Industries from C$100.00 to C$105.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. National Bank Financial raised their price objective on shares of CCL Industries from C$104.00 to C$106.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Canadian Imperial Bank of Commerce lifted their target price on shares of CCL Industries from C$104.00 to C$113.00 in a research report on Friday, August 14th. Finally, Royal Bank Of Canada lifted their target price on shares of CCL Industries from C$100.00 to C$107.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$106.60.

CCL Industries Stock Up 0.4%

The company has a debt-to-equity ratio of 48.08, a current ratio of 1.96 and a quick ratio of 1.31. The company has a market capitalization of C$16.76 billion, a P/E ratio of 21.22, a P/E/G ratio of 0.26 and a beta of 0.84. The stock has a 50-day moving average price of C$94.52 and a 200-day moving average price of C$90.67.

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.