BMO Capital Markets Forecasts Strong Price Appreciation for CCL Industries (TSE:CCL.B) Stock

CCL Industries (TSE:CCL.B) had its target price increased by analysts at BMO Capital Markets from C$103.00 to C$110.00 in a note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets’ target price would suggest a potential upside of 14.04% from the company’s current price.

CCL.B has been the topic of several other reports. ATB Cormark Capital Markets lifted their price objective on CCL Industries from C$101.00 to C$102.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. National Bank Financial upped 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 report on Friday, May 15th. Royal Bank Of Canada increased 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 note on Friday, May 15th. TD raised their price objective 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, Stifel Nicolaus upped 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. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$106.60.

CCL Industries Stock Up 0.5%

CCL.B traded up C$0.48 on Friday, reaching C$96.46. The company’s stock had a trading volume of 200,240 shares, compared to its average volume of 385,215. The stock has a market cap of C$16.58 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 0.26 and a beta of 0.95. CCL Industries has a 1 year low of C$74.69 and a 1 year high of C$98.59. The company has a debt-to-equity ratio of 48.08, a current ratio of 1.96 and a quick ratio of 1.31. The business’s 50 day moving average is C$90.17 and its 200 day moving average is C$87.96.

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.