Royal Bank Of Canada Issues Positive Forecast for CCL Industries (TSE:CCL.B) Stock Price

CCL Industries (TSE:CCL.B) had its target price raised by Royal Bank Of Canada from C$99.00 to C$100.00 in a report released on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 14.12% from the company’s previous close.

Several other research firms also recently issued reports on CCL.B. Scotiabank downgraded shares of CCL Industries from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from C$94.00 to C$96.00 in a research note on Thursday, January 29th. TD increased their target price on shares of CCL Industries from C$105.00 to C$110.00 and gave the stock a “buy” rating in a research note on Friday. National Bank Financial raised their price target on CCL Industries from C$102.00 to C$104.00 and gave the stock an “outperform” rating in a report on Friday. ATB Cormark Capital Markets raised their price target on CCL Industries from C$101.00 to C$102.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Raymond James Financial raised their price target on CCL Industries from C$95.00 to C$100.00 in a report on Friday, February 27th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$101.80.

CCL Industries Stock Performance

TSE CCL.B traded up C$0.51 during trading hours on Friday, hitting C$87.63. The company had a trading volume of 407,678 shares, compared to its average volume of 353,394. The company has a debt-to-equity ratio of 48.08, a quick ratio of 1.31 and a current ratio of 1.96. CCL Industries has a 1-year low of C$74.69 and a 1-year high of C$95.00. The company has a market cap of C$15.17 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 0.26 and a beta of 0.90. The business has a 50 day moving average of C$86.45 and a 200-day moving average of C$85.65.

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.