CCL Industries (TSE:CCL.B) Shares Pass Above 200-Day Moving Average – Here’s Why

CCL Industries Inc. (TSE:CCL.B)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$87.25 and traded as high as C$90.90. CCL Industries shares last traded at C$90.30, with a volume of 212,721 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. National Bank Financial upped their price objective on shares of CCL Industries from C$102.00 to C$104.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. TD boosted their target price on shares of CCL Industries from C$105.00 to C$110.00 and gave the company a “buy” rating in a report on Friday, May 15th. Royal Bank Of Canada raised their target price 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. ATB Cormark Capital Markets lifted their target price on shares of CCL Industries from C$101.00 to C$102.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Finally, Stifel Nicolaus boosted their price target on CCL Industries from C$103.00 to C$105.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$101.80.

CCL Industries Trading Up 1.1%

The company has a market cap of C$15.60 billion, a P/E ratio of 19.86, a PEG ratio of 0.26 and a beta of 0.93. The stock’s 50 day moving average is C$88.21 and its 200-day moving average is C$87.27. The company has a current ratio of 1.96, a quick ratio of 1.31 and a debt-to-equity ratio of 48.08.

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.