CCL Industries (TSE:CCL.B) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

CCL Industries Inc. (TSE:CCL.B) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$82.15 and traded as high as C$86.99. CCL Industries shares last traded at C$85.42, with a volume of 308,546 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. National Bank Financial raised their price target on shares of CCL Industries from C$97.00 to C$100.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Scotiabank lowered CCL Industries from an “outperform” rating to a “sector perform” rating and raised their target price for the company from C$94.00 to C$96.00 in a report on Thursday, January 29th. Canadian Imperial Bank of Commerce upped their price target on CCL Industries from C$93.00 to C$99.00 in a report on Friday, November 14th. 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, Royal Bank Of Canada lifted their price objective on shares of CCL Industries from C$90.00 to C$94.00 in a report on Thursday, November 13th. 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 presently has a consensus rating of “Moderate Buy” and an average target price of C$98.63.

CCL Industries Stock Down 1.4%

The company has a quick ratio of 1.31, a current ratio of 1.96 and a debt-to-equity ratio of 48.08. The company has a market capitalization of C$14.80 billion, a PE ratio of 18.61, a P/E/G ratio of 0.26 and a beta of 0.45. The stock has a 50-day moving average of C$85.69 and a 200 day moving average of C$82.15.

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.