CCL Industries (TSE:CCL.B) Hits New 12-Month High – Should You Buy?

CCL Industries Inc. (TSE:CCL.B) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$91.49 and last traded at C$91.06, with a volume of 174018 shares traded. The stock had previously closed at C$89.22.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CCL.B. ATB Cormark Capital Markets raised their price objective on shares of CCL Industries from C$101.00 to C$102.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. TD lifted their price objective on shares of CCL Industries from C$105.00 to C$110.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Raymond James Financial increased their price target on CCL Industries from C$95.00 to C$100.00 in a research note on Friday, February 27th. Royal Bank Of Canada raised their price objective on shares of CCL Industries from C$99.00 to C$100.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Finally, 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 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$101.80.

CCL Industries Stock Up 1.9%

The firm’s fifty day moving average is C$86.08 and its 200-day moving average is C$86.41. The company has a market capitalization of C$15.62 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 0.26 and a beta of 0.95. 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 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.