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

CCL Industries Inc. (TSE:CCL.B) 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 traded. The stock had previously closed at C$99.82.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CCL.B shares. Canadian Imperial Bank of Commerce boosted their target price on shares of CCL Industries from C$104.00 to C$113.00 in a research note on Friday, August 14th. Raymond James Financial raised their price target on shares of CCL Industries from C$100.00 to C$105.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Royal Bank Of Canada lifted their price target on shares of CCL Industries from C$100.00 to C$107.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. National Bank Financial lifted 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. Finally, ATB Cormark Capital Markets upped their price objective on 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 research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, CCL Industries currently has an average rating of “Moderate Buy” and an average target price of C$106.60.

CCL Industries Stock Up 2.5%

The company has a market capitalization of C$17.29 billion, a PE ratio of 21.91, a PEG ratio of 0.26 and a beta of 0.79. 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 stock’s 50 day moving average is C$95.62 and its 200 day moving average is C$90.23.

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.