ATB Cormark Capital Markets Issues Positive Forecast for CCL Industries (TSE:CCL.B) Stock Price

CCL Industries (TSE:CCL.B) had its price target hoisted by research analysts at ATB Cormark Capital Markets from C$102.00 to C$104.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target would suggest a potential upside of 7.88% from the company’s previous close.

Several other research analysts have also weighed in on CCL.B. TD upped their price target on CCL Industries from C$110.00 to C$115.00 and gave the company a “buy” rating in a research report on Friday. Stifel Nicolaus raised their target price on CCL Industries from C$103.00 to C$105.00 and gave the company a “buy” rating in a report on Friday, May 15th. National Bank Financial lifted their price target on shares of 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. Canadian Imperial Bank of Commerce raised their price target on CCL Industries from C$104.00 to C$113.00 in a research report on Friday. Finally, Royal Bank Of Canada upped their price target on CCL Industries from C$99.00 to C$100.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$106.60.

CCL Industries Price Performance

Shares of TSE CCL.B traded up C$0.42 during midday trading on Friday, reaching C$96.40. The company’s stock had a trading volume of 203,592 shares, compared to its average volume of 385,215. The company has a market cap of C$16.57 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 0.26 and a beta of 0.95. CCL Industries has a one year low of C$74.69 and a one year high of C$98.59. The company has a 50 day moving average price of C$90.17 and a 200 day moving average price of C$87.96. The company has a current ratio of 1.96, a quick ratio of 1.31 and a debt-to-equity ratio of 48.08.

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.