BMO Capital Markets Forecasts Strong Price Appreciation for CCL Industries (TSE:CCL.B) Stock

CCL Industries (TSE:CCL.B) had its price objective boosted by investment analysts at BMO Capital Markets from C$90.00 to C$91.00 in a report issued on Friday,BayStreet.CA reports. BMO Capital Markets’ price target suggests a potential upside of 16.59% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on CCL.B. Scotiabank upped their price target on shares of CCL Industries from C$85.00 to C$86.00 in a report on Friday, February 21st. TD Securities decreased their target price on CCL Industries from C$94.00 to C$90.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, CIBC lowered their target price on CCL Industries from C$96.00 to C$88.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, CCL Industries has a consensus rating of “Buy” and an average target price of C$89.25.

CCL Industries Price Performance

Shares of CCL Industries stock opened at C$78.05 on Friday. CCL Industries has a 1-year low of C$64.93 and a 1-year high of C$84.70. The firm has a fifty day simple moving average of C$70.41 and a 200-day simple moving average of C$73.60. The company has a current ratio of 1.96, a quick ratio of 1.31 and a debt-to-equity ratio of 48.08. The stock has a market capitalization of C$13.04 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 0.26 and a beta of 0.57.

Insider Buying and Selling

In other news, Director Gunther Johann Birkner sold 15,000 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of C$77.00, for a total value of C$1,155,000.00. Also, insider CCL Industries Inc. acquired 67,024 shares of CCL Industries stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of C$73.98 per share, with a total value of C$4,958,609.78. Over the last three months, insiders have bought 169,402 shares of company stock valued at $12,293,509 and have sold 23,427 shares valued at $1,764,884. 11.22% of the stock is owned by company insiders.

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.