CCL Industries (TSE:CCL.B) Sets New 1-Year High Following Analyst Upgrade

CCL Industries Inc. (TSE:CCL.B) hit a new 52-week high during mid-day trading on Thursday after TD Securities raised their price target on the stock from C$100.00 to C$105.00. The stock traded as high as C$89.16 and last traded at C$88.55, with a volume of 205757 shares changing hands. The stock had previously closed at C$87.02.

Several other brokerages have also weighed in on CCL.B. Scotiabank boosted their target price on shares of CCL Industries from C$91.00 to C$94.00 in a report on Thursday, November 13th. Raymond James Financial increased their price objective on CCL Industries from C$90.00 to C$95.00 in a research report on Thursday, November 13th. Royal Bank Of Canada lifted their target price on CCL Industries from C$90.00 to C$94.00 in a report on Thursday, November 13th. CIBC lifted their price target on CCL Industries from C$93.00 to C$99.00 in a research note on Friday, November 14th. Finally, BMO Capital Markets upped their price objective on shares of CCL Industries from C$95.00 to C$97.00 in a research note on Thursday, November 13th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CCL Industries presently has an average rating of “Buy” and an average target price of C$97.88.

CCL Industries Price Performance

The company has a 50 day moving average price of C$85.54 and a 200-day moving average price of C$81.54. The company has a quick ratio of 1.31, a current ratio of 1.96 and a debt-to-equity ratio of 48.08. The company has a market cap of C$15.34 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 0.26 and a beta of 0.57.

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.