CCL Industries (TSE:CCL.B) Hits New 52-Week High – Here’s Why

CCL Industries Inc. (TSE:CCL.B)’s stock price hit a new 52-week high on Monday . The stock traded as high as C$93.03 and last traded at C$89.98, with a volume of 89575 shares trading hands. The stock had previously closed at C$90.09.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CCL.B. TD lifted their price target on shares of CCL Industries from C$105.00 to C$110.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Royal Bank Of Canada raised their price objective on shares of CCL Industries from C$99.00 to C$100.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Stifel Nicolaus lifted their price objective on shares of CCL Industries from C$103.00 to C$105.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. National Bank Financial boosted 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 note on Friday, May 15th. Finally, ATB Cormark Capital Markets increased their target price 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 investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, CCL Industries has an average rating of “Moderate Buy” and a consensus price target of C$101.80.

CCL Industries Price Performance

The stock has a market capitalization of C$15.30 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 0.26 and a beta of 0.93. 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 stock has a fifty day moving average of C$87.56 and a 200-day moving average of C$87.13.

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.