CCL Industries (OTCMKTS:CCDBF) Sees Large Volume Increase – What’s Next?

CCL Industries Inc. (OTCMKTS:CCDBF) saw unusually-high trading volume on Wednesday . Approximately 931 shares changed hands during trading, an increase of 112% from the previous session’s volume of 440 shares.The stock last traded at $64.87 and had previously closed at $66.71.

Analysts Set New Price Targets

Several analysts have recently weighed in on CCDBF shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of CCL Industries in a research note on Thursday, December 18th. Scotiabank cut CCL Industries from an “outperform” rating to a “sector perform” rating in a report on Thursday, January 29th. Two equities research 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 currently has a consensus rating of “Moderate Buy”.

CCL Industries Price Performance

The business’s 50-day moving average price is $63.03 and its 200-day moving average price is $59.81.

CCL Industries (OTCMKTS:CCDBF) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.05). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion.

CCL Industries Company Profile

CCL Industries is a global specialty packaging company focused on the design and manufacture of pressure-sensitive and speciality labels, flexible packaging, tubes, and security products. The company serves a wide range of end markets, including consumer goods, healthcare, personal care, food and beverage, automotive, electronics, and industrial markets. Its portfolio comprises pressure-sensitive labels, shrink sleeves, in-mold labels, flexible packaging for food and other consumer products, and security-focused solutions such as tamper-evident seals and authentication systems.

Founded in 1951 and headquartered in Toronto, Ontario, CCL Industries has grown through a combination of organic innovation and strategic acquisitions.