CCL Industries (TSE:CCL.B) Sets New 52-Week High – Time to Buy?

CCL Industries Inc. (TSE:CCL.B) shares reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as C$109.64 and last traded at C$104.94, with a volume of 35,254 shares. The stock had previously closed at C$99.82.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Canadian Imperial Bank of Commerce increased their target price on shares of CCL Industries from C$104.00 to C$113.00 in a report on Friday, August 14th. National Bank Financial boosted their price target on shares of CCL Industries from C$104.00 to C$106.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. TD set a C$115.00 price objective on shares of CCL Industries and gave the stock a “buy” rating in a research report on Thursday, September 10th. BMO Capital Markets upped their price objective on shares of CCL Industries from C$103.00 to C$110.00 in a research report on Friday, August 14th. Finally, ATB Cormark Capital Markets increased 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, August 14th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$106.60.

CCL Industries Stock Up 2.5%

The stock has a fifty day moving average of C$95.62 and a 200 day moving average of C$90.23. 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 firm has a market capitalization of C$17.29 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 0.26 and a beta of 0.79.

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.