CCL Industries (TSE:CCL.B) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

CCL Industries Inc. (TSE:CCL.B)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$85.98 and traded as high as C$90.80. CCL Industries shares last traded at C$89.98, with a volume of 299,603 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. National Bank Financial upped their price objective on CCL Industries from C$102.00 to C$104.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Stifel Nicolaus boosted their target price on shares of CCL Industries from C$103.00 to C$105.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Scotiabank lowered shares of CCL Industries from an “outperform” rating to a “sector perform” rating and upped their target price for the company from C$94.00 to C$96.00 in a report on Thursday, January 29th. TD lifted their price target on shares of CCL Industries from C$105.00 to C$110.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Royal Bank Of Canada boosted 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 research report on Friday, May 15th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$101.80.

CCL Industries Stock Up 0.4%

The firm has a market cap of C$15.46 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 0.26 and a beta of 0.90. 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 firm has a fifty day moving average price of C$86.46 and a 200-day moving average price of C$85.98.

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.