CCL Industries (TSE:CCL.B) Sets New 1-Year High – Here’s Why

CCL Industries Inc. (TSE:CCL.B) shares hit a new 52-week high during trading on Tuesday . The company traded as high as C$94.66 and last traded at C$94.70, with a volume of 190234 shares traded. The stock had previously closed at C$92.95.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CCL.B. Royal Bank Of Canada increased 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 report 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 research note on Friday, May 15th. National Bank Financial upped their target price on shares of CCL Industries from C$102.00 to C$104.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Stifel Nicolaus raised their price target 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. Finally, ATB Cormark Capital Markets lifted their price target on CCL Industries from C$101.00 to C$102.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Five 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 stock presently has an average rating of “Moderate Buy” and an average target price of C$101.80.

CCL Industries Trading Up 2.2%

The company has a debt-to-equity ratio of 48.08, a quick ratio of 1.31 and a current ratio of 1.96. The stock has a market cap of C$16.33 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 0.26 and a beta of 0.93. The company’s 50 day simple moving average is C$88.99 and its two-hundred day simple moving average is C$87.57.

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.