CCL Industries (TSE:CCL.B) Hits New 12-Month High – Here’s Why

CCL Industries Inc. (TSE:CCL.B)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$91.00 and last traded at C$90.89, with a volume of 56830 shares traded. The stock had previously closed at C$89.98.

Analyst Ratings Changes

CCL.B has been the subject of several research analyst reports. ATB Cormark Capital Markets increased their target price on CCL Industries from C$101.00 to C$102.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. National Bank Financial increased their target price on 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. Raymond James Financial raised their target price on shares of CCL Industries from C$95.00 to C$100.00 in a research note on Friday, February 27th. Stifel Nicolaus raised 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 note on Friday, May 15th. Finally, Scotiabank cut shares of CCL Industries from an “outperform” rating to a “sector perform” rating and raised their target price for the company from C$94.00 to C$96.00 in a research note on Thursday, January 29th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$101.80.

CCL Industries Stock Down 1.9%

The company has a market capitalization of C$15.30 billion, a PE ratio of 19.47, a PEG ratio of 0.26 and a beta of 0.90. The company’s 50 day moving average is C$86.62 and its two-hundred day moving average is C$86.21. The company has a quick ratio of 1.31, a current ratio of 1.96 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.