CCL Industries (TSE:CCL.B) Sets New 52-Week High – Here’s What Happened

CCL Industries Inc. (TSE:CCL.B) shares hit a new 52-week high during trading on Wednesday. The company traded as high as C$100.52 and last traded at C$100.30, with a volume of 51,633 shares changing hands. The stock had previously closed at C$99.45.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CCL.B shares. National Bank Financial upped their target price on CCL Industries from C$104.00 to C$106.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Raymond James Financial boosted their price target on CCL Industries from C$100.00 to C$105.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. TD set a C$115.00 price target on CCL Industries and gave the stock a “buy” rating in a report on Thursday, September 10th. Royal Bank Of Canada lifted their price objective on shares of CCL Industries from C$100.00 to C$107.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Finally, Canadian Imperial Bank of Commerce boosted their target price on shares of CCL Industries from C$104.00 to C$113.00 in a research report on Friday, August 14th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, CCL Industries presently has an average rating of “Moderate Buy” and a consensus target price of C$106.60.

CCL Industries Stock Performance

The company has a 50-day moving average of C$94.94 and a 200-day moving average of C$89.90. The company has a market cap of C$17.01 billion, a PE ratio of 21.54, a PEG ratio of 0.26 and a beta of 0.84. The company has a quick ratio of 1.31, a current ratio of 1.96 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.