CCL Industries (TSE:CCL.B) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

CCL Industries Inc. (TSE:CCL.B) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$83.72 and traded as high as C$88.80. CCL Industries shares last traded at C$86.79, with a volume of 355,211 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Raymond James Financial boosted their price objective on shares of CCL Industries from C$95.00 to C$100.00 in a research report on Friday, February 27th. TD Securities lifted their price target on shares of CCL Industries from C$100.00 to C$105.00 in a research note on Wednesday, January 21st. Scotiabank cut shares of CCL Industries from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from C$94.00 to C$96.00 in a research report on Thursday, January 29th. Finally, National Bank Financial increased their price objective on shares of CCL Industries from C$100.00 to C$102.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, CCL Industries currently has a consensus rating of “Moderate Buy” and an average target price of C$99.50.

CCL Industries Price Performance

The stock has a market cap of C$15.02 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 0.26 and a beta of 0.80. 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 company has a 50-day simple moving average of C$86.85 and a two-hundred day simple moving average of C$83.77.

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.