CCL Industries (TSE:CCL.B) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

CCL Industries Inc. (TSE:CCL.B)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$80.11 and traded as high as C$85.81. CCL Industries shares last traded at C$85.72, with a volume of 355,941 shares traded.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of CCL Industries from C$90.00 to C$94.00 in a research note on Thursday, November 13th. TD Securities raised their price objective on CCL Industries from C$95.00 to C$100.00 in a report on Thursday, November 13th. CIBC lifted their target price on CCL Industries from C$93.00 to C$99.00 in a research report on Friday, November 14th. BMO Capital Markets increased their price target on CCL Industries from C$95.00 to C$97.00 in a research report on Thursday, November 13th. Finally, Stifel Nicolaus upped their price objective on shares of CCL Industries from C$92.00 to C$103.00 in a research note on Thursday, November 13th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$97.25.

CCL Industries Price Performance

The firm has a market capitalization of C$14.85 billion, a P/E ratio of 18.68, a P/E/G ratio of 0.26 and a beta of 0.67. The stock’s fifty day simple moving average is C$81.41 and its 200 day simple moving average is C$80.11. The company has a debt-to-equity ratio of 48.08, a current ratio of 1.96 and a quick ratio of 1.31.

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.